IOI Corp.: zero-coupon convertibles fully exchanged before redemption

By Susanna Moon

Chicago, June 22 - IOI Corp. Bhd. said holders exercised their exchange rights for its zero-coupon exchangeable bonds due 2009.

The $6 million in outstanding bonds were exchanged ahead of redemption, scheduled for June 29. The bonds were exchangeable until June 19, as previously reported.

The bonds were issued Sept. 17, 2004. On May 8, the company said it was exercising is option to redeem the bonds if less than $10 million principal amount remains outstanding.

IOI is a Putrajaya, Malaysia-based palm oil production and property conglomerate.

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