UNS Energy redeems all $34.7 million of 4.5% convertibles due 2035

By Tali David

Minneapolis, June 13 - UNS Energy Corp., formerly known as UniSource Energy Corp., redeemed all $34.7 million of its outstanding 4.5% convertible senior notes due 2035, according to an 8-K filed with the Securities and Exchange Commission.

The notes were redeemed at par plus accrued interest on June 11.

The notes were convertible by the holders into shares of the company's common stock at the conversion rate of 29.001 shares of common stock for each $1,000 principal amount of notes.

Prior to redemption, holders of $34,466,000 aggregate principal amount of the notes converted their interests into 999,535 shares of the company's common stock, the filing said.

The remaining $188,000 was redeemed for cash on June 11.

UniSource is a Tucson, Ariz.-based electric utility. The company's shares (NYSE: UNS) closed at $37.51 per share on Tuesday.

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