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Primary Health cuts conversion price of £53.4 million 4.25% notes
By Susanna Moon
Chicago, Oct. 12 – Primary Health Properties plc said it lowered the conversion price of the £53.4 million of outstanding 4.25% convertible bonds due 2019 issued by subsidiary PHP Finance (Jersey) Ltd.
The exchange price was adjusted to 96.16p from 97.5p, in line with the dividend protection provisions under the note terms and was triggered by the common shares trading ex-dividend, according to an announcement.
London-based Primary Heath is a health care real estate investment trust.
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