Holders of Alberto-Culver debentures to sell them back at par
May 19, 2008 - United States Of America
The Alberto-Culver Company announced that all of the holders of its $120 million of 6.375% debentures have exercised their one time right to sell the debentures back to the Company at par.
Under the terms of the debentures, the Company will make this payment on June 16, 2008. As of March 31, 2008 the Company had cash and cash equivalents of approximately $379 million.
Alberto-Culver Company manufactures, distributes and markets leading beauty care and other personal care products including TRESemme, Alberto VO5, Nexxus and St. Ives in the United States and internationally.
Several of its household/grocery products such as Mrs. Dash and Static Guard are niche category leaders in the U.S.