LukOil cuts conversion price on $1.5 billion of 2.625% convertibles

By Melissa Kory

Cleveland, Aug. 18 - LukOil International Finance BV said it adjusted the conversion price on its $1.5 billion of 2.625% convertible bonds due June 2015 to $73.3912 from $73.7087.

The adjustment is the result of the company's April 26 announcement of a cash dividend to its shareholders in the amount of RUB 59 per share, the payment of which was approved at the company's general meeting of shareholders on June 23.

Lukoil is a Moscow-based oil and energy company.

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