Callaway Golf is offering to redeem the balance of its outstanding 3.75 percent convertible senior notes due in 2019, plus accrued interest, leaving the company without any long-term debt. The principal on the notes carries a total value of $27,517,000, plus interest. Until Nov. 16, the note holders will be able to convert principal and interest into Callaway shares at a rate of 133.33 shares per $1,000 in principal. The company already retired $84,983,000 of the 2019 notes last August. They were all issued in August 2012.

Topics