Tuesday, Priceline.com Inc. (PCLN) said that on January 20, 2010, it will redeem all of its outstanding 2006 2.25% Convertible Senior Notes due January 15, 2025. The Notes will be redeemed on January 20, 2010 at a redemption price equal to 100% of the principal amount plus accrued and unpaid interest from January 15, 2010 through January 19, 2010.
The right to convert the Notes into common stock of the Company, at a rate of 26.3505 shares per $1,000 principal amount of Notes, will expire at the close of business on January 19, 2010.
Priceline.com Incorporated operates as an online travel company principally in the United States, Europe, and Asia. It provides various travel services, including airline tickets, hotel rooms, car rentals, vacation packages, cruises, and reservation services.
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