$900 MILLION IN NOTES SOLD BY COSTCO COS.

ISSAQUAH, Wash. -- Costco Cos. here announced the sale of $900 million of zero coupon convertible subordinated notes due Aug. 19, 2017. vertible into a maximum of 10.2 million shares of Costco Cos. common stock at an initial conversion price of $44.The company said approximately $312 million of the proceeds from the offering are expected to be used to redeem Costco Wholesale Corp.'s $300 million principal

Sep 01, 1997

ISSAQUAH, Wash. -- Costco Cos. here announced the sale of $900 million of zero coupon convertible subordinated notes due Aug. 19, 2017.

vertible into a maximum of 10.2 million shares of Costco Cos. common stock at an initial conversion price of $44.

The company said approximately $312 million of the proceeds from the offering are expected to be used to redeem Costco Wholesale Corp.'s $300 million principal amount of 5.75% convertible subordinated debentures due 2002, including the redemption premium and current accrued interest.

$900 MILLION IN NOTES SOLD BY COSTCO COS.

The remaining proceeds will be used for general corporate purposes, Costco said.