Coeur D'Alene Mines exchanges stock for convertibles

New York, Dec. 16 - Coeur D'Alene Mines Corp. said it exchanged stock for a total of $13 million principal amount of its convertibles and holders have voluntarily exchanged a further $10.1 million.

The Coeur D'Alene, Ida. silver and gold mining company said it exchanged 7.9 million shares of common stock for $10.3 million principal amount of its 6.375% convertible debentures due January 2004 and 2.1 million shares of common stock for $2.7 million principal amount of its 7.25% convertible debentures due October 2005.

In addition, Coeur D'Alene Mines said that since Sept. 30, holders of $10.1 million of its series I and series II 13.375% convertibles notes due December 2003 have voluntarily converted their holdings into 8.8 million common shares.

As a result, the company now has $55.1 million of its 6.375% convertibles outstanding, $11.7 million of its 7.25% convertibles. There are no series II 13.375% convertibles outstanding.

In total, the company now has $79.5 million of convertibles outstanding, down from $145.5 million at the beginning of the year and $102.7 million at the end of the third quarter.

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