Paladin Energy trims conversion prices of convertibles due 2015, 2017

By Toni Weeks

San Luis Obispo, Calif., Aug. 15 - Paladin Energy Ltd. said it has adjusted the conversion price for its $300 million of convertible bonds due Nov. 4, 2015 and its $274 million of convertible bonds due April 30, 2017.

According to a press release, the prevailing conversion price is subject to adjustment whenever any new shares are issued at less than 95% of the current market price.

Following the company's Aug. 12 private placement, the conversion price of the convertible bonds due 2015 was lowered to $5.403 from $5.608, and that of the convertible bonds due 2017 was lowered to $2.109 from $2.19.

Paladin is a uranium exploration company based in Subiaco, Australia.

© 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.