Summary
CSX Corporation (CSX) has filed an 8-K report on September 23, 2011, to disclose a significant event related to its Zero Coupon Convertible Debentures due October 30, 2021. The company has notified debenture holders of its intent to exercise an obligation to purchase these debentures on October 30, 2011. The purchase price is set at $945.12 per $1,000 original principal amount at maturity, contingent on specific circumstances outlined in the notice.
Key Highlights
- 1CSX Corporation is exercising an obligation to purchase its Zero Coupon Convertible Debentures due October 30, 2021.
- 2The purchase will occur on October 30, 2011.
- 3The purchase price is $945.12 per $1,000 original principal amount at maturity.
- 4The purchase is subject to certain circumstances described in the company's notice to holders.
- 5The yield to maturity for these debentures will be reset to 1.000% per annum on October 30, 2011.
- 6This action is being disclosed under Regulation FD.