Pacific Basin holders may put 1.875% convertible bonds due 2018

By Marisa Wong

Morgantown, W.Va., Aug. 17 – Pacific Basin Shipping Ltd. said holders may put its $123.8 million 1.875% guaranteed convertible bonds due 2018.

The convertibles are putable at par plus accrued interest on Oct. 24, according to a company announcement.

In order to exercise their put option, holders must notify the paying agent, Hongkong and Shanghai Banking Corp. Ltd., between Aug. 25 and Sept. 24 (both days inclusive).

Pacific Basin Shipping is a dry bulk shipping company based in Hong Kong.

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