Portugal Telecom lowers exchange price of 4.125% bonds to €9.40

By Susanna Moon

Chicago, June 1 - Portugal Telecom SGPS, SA said the exchange price for Portugal Telecom International Finance BV's €750 million of 4.125% exchangeable bonds due 2014 was adjusted to €9.40, effective May 31.

The threshold amount is €0.4659, and the notes are exchangeable into 5,319 shares of Portugal Telecom for each €50,000 principal amount.

This follows the ex-dividend date of the second component of the dividend for fiscal year 2010, amounting to €1.30 per share, according to a company press release.

Portugal Telecom is based in Lisbon and provides telecommunications and multimedia services in Portugal and Brazil.

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