Lappland lowers conversion price on SEK 122.21 million bonds due 2013

By Susanna Moon

Chicago, June 21 - Lappland Goldminers AB said it adjusted the conversion price of its bonds due Dec. 30, 2013 to SEK 9.47.

The adjustment was set after the company completed an equity issue with preferential rights for all shareholders, according to a press release.

Lappland said on Feb. 19, 2010 that it would issue a convertible bond loan to the company's shareholders for SEK 122.21 million.

Interest is 90-day Stibor plus 600 basis points, capped at 10% during each interest period.

The notes are convertible annually at SEK 11.00 from Jan. 1 through Jan. 15, May 1 through May 15 and Sept. 1 through Sept. 15, beginning on Jan. 1, 2011.

Lappland is a gold exploration company based in Lycksele, Sweden.

© 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.