United Continental Holdings announced that it is notifying holders of the $155,640,000 outstanding principal amount of its 4.50 percent Senior Limited-Subordination Convertible Notes due 2021 (the "Notes") that it has elected to effect an optional redemption of all of the outstanding Notes on Feb. 10 , (the "Redemption Date"). According to a release, United Continental Holdings, Inc. (the "Company") will redeem the entire outstanding principal amount of the Notes, at a price in cash equal to 100 percent of the principal amount of such Notes, plus accrued and unpaid interest thereon to but not including the Redemption Date. The Notes are convertible into shares of the Company's common stock. The current conversion rate of the Notes is 30.6419 shares of common stock per $1,000 principal amount of the Notes, and the conversion price is $32.64 . Per the terms and conditions of the indenture and the Notes, holders will retain the right to convert their Notes (or portions thereof) into the Company's common stock until 5 p.m. ( New York City time) on Feb. 6 , which is the second business day prior to the Redemption Date. ((Comments on this story may be sent to firstname.lastname@example.org ))
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