Pipex holders to consider amendments to 3.875% convertibles

By Jennifer Chiou

New York, July 30 - Pipex Communications plc said that its subsidiary, Pipex Finance (Jersey) Ltd., will ask holders of its 3.875% guaranteed convertible bonds due 2011 to consider amendments to the bonds at an Aug. 21 meeting.

Bondholders will consider amendments that, upon completion of the sale of certain subsidiaries, will allow Pipex to give neither less than seven days' nor more than 30 days' notice to call the bonds for redemption at par plus a premium of £20.00 per £1,000 principal amount and accrued interest.

The U.K. internet service provider has offices in Buckinghamshire and London.

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