Japan Airlines on March 25 will redeem ¥79.7 billion of convertible bonds due to mature in 2011, the company said in a stock exchange filing cited by Bloomberg News, which said investors had until Feb. 23 to convert the ¥100 billion of bonds into stock but that shares in JAL closed 32% lower than the bonds' conversion price. JAL said it is seeking a ¥60 billion credit line to help repay the bonds, according to Bloomberg.
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