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Prospect News home > News index > List of issuers P > Headlines for PetroBakken Energy Ltd. > News item
Published on 12/5/2011 in the Prospect News Convertibles Daily.

PetroBakken lowers conversion price on 3.125% bonds due to dividends

By Ashley Montgomery

Kansas City, Kan., Dec. 5 - PetroBakken Energy Ltd. adjusted the conversion rate on its 3.125% senior unsecured convertible bonds due 2016, according to a notice from trustee Norsk Tillitsmann AS.

The conversion price, effective Dec.1, is $35.64.

The company lowered the price due to a monthly dividend of C$0.08 per share from January 2010 to November 2011, the notice stated.

Calgary, Alta.-based PetroBakken Energy is a light oil production company.


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