View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. Technology
October 28, 1997updated 03 Sep 2016 8:13pm


By CBR Staff Writer

As expected, Unisys Corp has completed the conversion to common stock of all its oustanding 8.25% year 2000 convertible notes (CI No 3,269). The conversion, which is non-dilutive, reduces the company’s debt by $345m and increases shareholders’ equity by the same amount. The company should realize an 11% savings on interest expense to the tune of $28.5m annually, and its debt-to- capital ratio will fall from 60% to 51%. The number of shares of common stock outstanding increases by 33.7 million to $209.5m. Unisys has said it intends to reduce its debt by $1.0bn by 2000.

Content from our partners
Unlocking growth through hybrid cloud: 5 key takeaways
How businesses can safeguard themselves on the cyber frontline
How hackers’ tactics are evolving in an increasingly complex landscape

Websites in our network
Select and enter your corporate email address Tech Monitor's research, insight and analysis examines the frontiers of digital transformation to help tech leaders navigate the future. Our Changelog newsletter delivers our best work to your inbox every week.
  • CIO
  • CTO
  • CISO
  • CSO
  • CFO
  • CDO
  • CEO
  • Architect Founder
  • MD
  • Director
  • Manager
  • Other
Visit our privacy policy for more information about our services, how New Statesman Media Group may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.