Alcatel USA, Inc. To Redeem 7% Convertible Subordinated Notes Due August 1, 2004 Issued By DSC Communications Corporation
BusinessWire, 06/30/2000 16:18
NEW YORK--(BUSINESS WIRE)--June 30, 2000--Alcatel USA, Inc. today announced that it will exercise its right to redeem $399,950,000 principal amount of 7% convertible subordinated notes due August 1, 2004 (the "Notes") issued by DSC Communications Corporation and assumed by Alcatel USA, Inc. in connection with Alcatel's acquisition of DSC Communications in June, 1998. Such redemption shall occur on August 1, 2000 at a price equal to 104% of the principal amount, plus accrued interest to August 1, 2000. From and after the redemption date of August 1, 2000, all interest shall cease to accrue on such Notes.
As an alternative to redemption, the holders may elect to convert their Notes into Alcatel American Depository Shares at a conversion price of $61.012 per share. The holders' right to convert into shares will expire at the close of business on July 25, 2000.
All notes must be presented for payment or conversion to the Bank of New York, the trustee for the benefit of the holders of the Notes. If presented by mail, the Notes must be delivered to the trustee at P.O. Box 11249, Church Street Station, Bond Redemption Unit, New York, New York 10286. If presented by hand delivery, the Notes must be delivered to the trustee at its offices at 101 Barclay Street, Bond Redemption Unit, Ground Floor, New York, New York 10286.
Any questions relating to this Notice of Redemption or the loss of a Note should be directed to Van Brown at Bank of New York, tel. 212/815 6286
CONTACT: Alcatel USA, Inc |
