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BRIEF-Kaman announces sale of additional convertible notes pursuant to over-allotment option exercise
May 25, 2017 / 8:34 PM / 3 months ago

BRIEF-Kaman announces sale of additional convertible notes pursuant to over-allotment option exercise

May 25 (Reuters) - Kaman Corp

* Kaman corporation announces sale of additional convertible notes pursuant to over-allotment option exercise

* Kaman corp - sale of an additional $25 million in aggregate principal amount of its 3.25% convertible senior notes due 2024

* Kaman corp - entered into additional capped call transactions with certain of initial purchasers or their respective affiliates

* Kaman - interest expense company expects to record in respect of notes will represent cash coupon of 3.25% and accretion of deemed debt discount

* Kaman corp - sale of additional notes settled on may 24, 2017

* Kaman corp- used a portion of net proceeds from sale of additional notes to enter into additional capped call transactions with option counterparties

* Kaman corp - company has issued a total of $200 million aggregate principal amount of notes

* Kaman corp- intends to use remainder of net proceeds from sale of additional notes to repay indebtedness under company's existing credit agreement Source text for Eikon: Further company coverage:

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