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British Land trims exchange price on 0% convertibles due 2020
By Marisa Wong
Los Angeles, Jan. 2 – British Land Co. plc said it lowered the exchange price on the £350 million of zero-coupon guaranteed convertible bonds due 2020 issued by British Land (White) 2015 Ltd.
The exchange price was adjusted to £9.7509 per ordinary share from £9.9108 per ordinary share, effective from Jan. 2.
In addition, the company lowered the threshold amount to 3.133p per ordinary share from 3.236p per ordinary share, also effective Jan. 2.
The changes are due to a cash dividend of 7.9825p payable on Feb. 7 to holders of record on Jan. 3.
British Land is a London-based real estate company.
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