International Power lowers exchange price on 3.75% convertibles due 2023

By Devika Patel

Knoxville, Tenn., July 12 - International Power plc announced that it was lowering the exchange price of its $252.5 million 3.75% convertible bonds due 2023.

The price is being lowered to 170 pence from 173 pence, effective June 26.

The adjustment results from the May 15 announcement that International Power will pay a cash dividend of 7.9 pence 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 that owns power plants around the world.

© 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.