France's Faurecia adjusts conversion rate for bonds due to dividend

By Marisa Wong

Madison, Wis., June 3 - Faurecia SA announced an update to the conversion terms for its Oceanes following dividend approved at a shareholders' meeting on May 27.

For each convertible bond, holders will now receive 1.01 Faurecia shares with a nominal value of €7.00. The new rate became effective May 30.

The issuer is a Nanterre, France-based automotive equipment supplier. Its shares (EPA: EO) closed at €30.85 on Monday.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.