Verisign Inc. (VRSN) Announces Upside Trigger Hit on Junior Subordinated Convertible Debenture Issuance

August 16, 2016 9:38 AM EDT

Find out which companies are about to raise their dividend well before the news hits the Street with's Dividend Insider Elite. Sign-up for a FREE trial here.

Verisign Inc. (NASDAQ: VRSN) shares are down 2 percent early Tuesday.

On Monday night, the company announced that the upside trigger on its 3.25% junior subordinated convertible debentures due 2037 (CUSIP Nos. 92343EAD4 and 92343EAC6) (the “Notes”) has been met for the six-month interest payment period from Aug. 15, 2016, to Feb. 14, 2017. As a result, contingent interest will be paid on the Notes for that six-month interest payment period. Contingent interest of approximately $7.7 million on the $1.25 billion outstanding principal amount of the Notes, or approximately $6.1750 per $1,000 principal amount of the Notes, will be paid on Feb. 15, 2017, to the holders of record as of Feb. 1, 2017.

Serious News for Serious Traders! Try Premium Free!

You May Also Be Interested In

Related Categories

Corporate News

Add Your Comment