Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers P > Headlines for Philippine Long Distance Telephone Co. > News item |
First Pacific to adjust exchange rate on 0% exchangeables linked to Philippine Long Distance
By Devika Patel
Knoxville, Tenn., Aug. 13 - First Pacific Co. Ltd. said it plans to adjust the exchange rate on its $199 million zero-coupon guaranteed exchangeable notes due 2010 issued by its First Pacific Finance Ltd. subsidiary and exchangeable into Philippine Long Distance Telephone Co. stock.
The change comes after Philippine Long Distance declared an interim dividend for 2007 of PHP60 per share and a special dividend of PHP40 per share. As a result, First Pacific may make a capital distribution to purchase additional Phillipine Long Distance shares by Sept. 24.
Upon actual receipt of the dividends, the company will make a formal announcement of the adjustment details.
Philippine Long Distance is a Manila, Philippines-based telecommunications company.
© 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.