Jarden Corporation has placed $250 million worth of convertible notes, carrying interest of 1.5 percent a year and due in 2019, with a syndicate of investors headed by Barclays Capital and J.P Morgan. The investors have also exercised an option to purchase an additional $15.2 million at the same conditions. The company may decide to pay back the notes in cash or shares. In the latter case, the conversion price will be about $58.46 per share, representing a premium of around 30 percent on the closing price of Jarden's shares on June 6. The net proceeds of about $258 million will be used for general corporate purposes, says Jarden, whose Outdoor Solutions segment owns many important brands including Abu Garcia, Berkley, Campingaz, Coleman, ExOfficio, K2, Marker, Marmot, Mitchell, Penn, Rawlings, Shakespeare, Stearns, Völkl and Zoot.

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