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Genesco to pay contingent interest on its 4.125% SCD
17 Jun '08
1 min read
Genesco Inc announced that for the six-month period beginning June 15, 2008, it will pay contingent interest on its 4.125% Subordinated Convertible Debentures (SCD) due 2023 determined in the manner provided in the indenture under which they were issued, at a rate of 0.25% of the average Trading Price (as defined in the indenture) of $1,000 principal amount of the debentures.
The indenture requires payment of contingent interest for the six-month period because the average Trading Price of the debentures for the five trading days ended June 13, 2008 exceeded 120% of the principal amount of the debentures.
The contingent interest payment for the six-month period will equal $1.6611 per $1,000 principal amount of debentures in addition to regular interest on the debentures.
Genesco Inc, a Nashville-based specialty retailer, sells footwear, headwear and accessories in more than 2,175 retail stores in the United States and Canada.
The indenture requires payment of contingent interest for the six-month period because the average Trading Price of the debentures for the five trading days ended June 13, 2008 exceeded 120% of the principal amount of the debentures.
The contingent interest payment for the six-month period will equal $1.6611 per $1,000 principal amount of debentures in addition to regular interest on the debentures.
Genesco Inc, a Nashville-based specialty retailer, sells footwear, headwear and accessories in more than 2,175 retail stores in the United States and Canada.
Genesco Inc
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