Summary
CSX Corporation (CSX) filed an 8-K on September 29, 2006, to disclose a mandatory purchase offer for its Zero Coupon Convertible Debentures due October 30, 2021. The company has notified holders of its obligation to purchase these debentures on October 30, 2006. The purchase price for the debentures is set at $861.03 per $1,000 principal amount at maturity. This action is being taken under specific circumstances outlined in the notice to debenture holders. Investors holding these specific debentures should pay close attention to the details of this offer and the conditions that triggered it.
Key Highlights
- 1CSX Corporation is initiating a mandatory purchase of its Zero Coupon Convertible Debentures due October 30, 2021.
- 2The purchase is scheduled to occur on October 30, 2006.
- 3The purchase price is $861.03 for every $1,000 principal amount at maturity.
- 4This purchase is being made under specific circumstances detailed in a notice to debenture holders.
- 5The filing includes the press release announcing this action as Exhibit 99.1.