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$Buzzfeed (BZFD.US)$ update is scheduled for today on restru...

$Buzzfeed(BZFD.US)$ update is scheduled for today on restructuring. They are redeeming 30 million of convertible notes, so does that mean they are going to dilute shares? I've read about convertible notes and it typically means they are trying to reduce debt/obligations to note holders. Any input?
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