From the Wires
Covanta Announces Adjustment to the Conversion Rate on Its 3.25% Cash Convertible Senior Notes due 2014
By: Marketwired .
Dec. 18, 2012 04:16 PM
MORRISTOWN, NJ -- (Marketwire) -- 12/18/12 -- Covanta Holding Corporation (NYSE: CVA) ("Covanta" or the "Company") today announced an adjustment to the conversion rate on its 3.25% cash convertible senior notes due 2014 in connection with its previously announced dividend payable on December 26, 2012 to stockholders of record as of December 18, 2012. As a result of this dividend, the conversion rate was adjusted to 62.5210 shares of Covanta's common stock per $1,000 principal amount of the notes. The adjusted conversion rate is equivalent to an adjusted conversion price of $15.99 per share.
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