Bergen Brunswig Will Redeem Debt Securities Due 2004 for Cash or Stock

Bergen Brunswig Corp. said Thursday that it will redeem on Feb. 10 all of its debt securities due 2004.

The Orange-based pharmaceutical distributor said it will take a $2.5-million charge to its earnings for its second quarter ending Feb. 28 to pay the cost of redeeming the notes early.

The notes will be redeemed at a price of $458.08 for every $1,000 face value. Holders of the notes now can convert each $1,000 of notes for 16.474 shares of the company’s common stock, which at present prices would have a value of about $360.

Bergen Brunswig will pay for the redemption of the securities with $216 million in proceeds it made from the recent sale of other notes.