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Callaway Golf: Announces Notice Of Redemption Of 3.75% Senior Notes

The following excerpt is from the company's SEC filing.

CARLSBAD, CA /October 15, 2015/ Callaway Golf Company (NYSE:ELY) (the Company) today announced that it has given notice of its intention to redeem all of the outstanding 3.75% Convertible Senior Notes due 2019 (the Senior Notes) pursuant to the terms of the Indenture governing the terms of the Senior Notes. The outstanding Senior Notes will be redeemed for cash equal to 100% of the principal amount of the Senior Notes, plus accrued and unpaid interest. The anticipated redemption date is November 16, 2015 (the Redemption Date). The holders of the Senior Notes may exercise their conversion rights at any time pr ior to the close of business on the business day immediately preceding the Redemption Date at a rate of 133.3333 shares of the Companys common stock per $1,000 in principal amount of Senior Notes.

The Company originally issued the Senior Notes in August 2012 in the aggregate principal amount of $112,500,000. In August 2015, the Company consummated certain exchange transactions pursuant to which the Company retired $84,983,000 of the Senior Notes in exchange for cash and shares of the Companys common stock. As a result, there is $27,517,000 in aggregate principal amount of Senior Notes currently outstanding.

We are pleased that we were able to consummate the exchange...


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