Lukoil dividend triggers lower conversion price on 2.625% bonds

By Ashley Montgomery

Kansas City, Kan., Aug. 28 - Lukoil International Finance BV has adjusted the conversion price on its $1.5 billion 2.625% convertible bonds due June 2015, according to a notice.

The company said it lowered the conversion price to $72.6489 from $73.3912.

The price was adjusted as a result of the company's decision to pay shareholders a cash dividend of RUB 75 per share.

The new price went into effect on Aug. 24.

Lukoil is a Moscow-based oil and energy company and a subsidiary of OAO Lukoil.

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