| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers N > Headlines for National Grid plc > News item |
National Grid trims conversion price for 0.9% convertibles due 2020
By Marisa Wong
Los Angeles, July 2 – National Grid plc lowered the conversion price on the £400 million of 0.9% convertible bonds due 2020 issued by National Grid North America Inc., according to a company notice.
The conversion price is now £11.4374, effective July 2.
The adjustment was triggered by a year-end dividend of 32p per ordinary share. On June 18 the company had announced a full-year dividend of 48.57p per ordinary share, consisting of an already paid interim dividend of 16.57p and the year-end dividend.
In addition to reducing the conversion price, National Grid adjusted the dividend threshold. It is now zero through maturity.
National Grid is a London-based electricity and gas utility.
© 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.