International Power sweetens conversion price on 3.25%, 3.75% guaranteed convertible bonds

By Devika Patel

Knoxville, Tenn., June 26 - International Power Finance (Jersey) II Ltd. announced that it is lowering the conversion price of its €230 million of 3.25% guaranteed convertible bonds due 2013 and its $252.5 million of 3.75% guaranteed convertible bonds due 2023.

The eurobonds' conversion price will be lowered to 374p from 384p, effective June 26. The dollar bonds will be convertible at 165p, lowered from 168p, also effective June 26.

The changes are due to an announcement made by parent company International Power plc that it will pay a cash dividend to shareholders.

International Power is a London-based electric power generating company with power plants totaling 31,191 megawatts of gross capacity, or 19,001 megawatts of net capacity, in 20 countries.

© 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.