Summary
CSX Corporation (CSX) has filed an 8-K report detailing the results of a purchase option exercise related to its Zero Coupon Convertible Debentures due October 30, 2021. On October 30, 2006, CSX exercised this option and purchased a portion of the outstanding debentures. The company acquired $4,000,000 aggregate principal amount at maturity for a cash consideration of $3,444,120. This action reduces the outstanding principal amount of the debentures, with $548,163,000 aggregate principal amount at maturity still remaining.
Key Highlights
- 1CSX Corporation exercised a purchase option on its Zero Coupon Convertible Debentures due October 30, 2021.
- 2The purchase occurred on October 30, 2006.
- 3CSX acquired $4,000,000 (at maturity) of the debentures.
- 4The aggregate cash consideration paid for the purchased debentures was $3,444,120.
- 5Following the purchase, $548,163,000 (at maturity) of the debentures remain outstanding.
- 6This action is reported under Regulation FD Disclosure (Item 7.01).