International Power sweetens exchange price on 3.75% convertibles

By Devika Patel

Knoxville, Tenn., Oct. 30 - International Power plc announced that it lowered the exchange price of its $252.5 million outstanding 3.75% convertible bonds due 2023.

The price was lowered to 168p from 170p, effective Oct. 30.

The adjustment results from the Aug. 9 announcement that International Power will pay a cash dividend of 2.77p per share to shareholders.

All other terms and conditions of the bonds remain unchanged.

Deutsche Bank AG London is the conversion agent.

International Power is a London-based electricity company.

© 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.