International Power lowers exchange price of 3.25% convertible bonds

By Devika Patel

Knoxville, Tenn., May 27 - International Power plc announced that it is lowering the exchange price on its €230 million of 3.25% guaranteed convertible bonds due 2013 to 342p per share from 352p per share, effective June 24.

The adjustment is required due to the company's announced cash dividend of 8.28p per share.

London-based International Power is global power plant developer and operator.

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