AFG Industries to Redeem $40 Million Worth of Bonds

AFG Industries, Inc., an Irvine glass maker, said it plans to redeem $40-million worth of convertible subordinated debentures on June 6. The redemption price per $1,000 in principal amount is $1,087.37. The company also said the bonds are exchangeable for common stock at the rate of 59 common shares for each $1,000 face amount of debentures, at a conversion price of $16.88 a share.