Estonia’s Pro Kapital extends 7% convertibles to September 2016

By Jennifer Chiou

New York, Sept. 16 – AS Pro Kapital Grupp announced that it has extended the redemption date for €1,447,681.20 of its 7% convertible bonds by two years to Sept. 16, 2016.

According to a press release, all bondholders agreed with the company’s proposal to extend the redemption date of the convertible bonds.

The company added that €53,152.40 of the bonds will be redeemed. This amount is separate from the bonds that were extended.

The issue price of each convertible bond was €2.80, the release noted. The company’s stock (TAL: PKG1T) closed at €2.53 on Sept. 16.

Pro Kapital Grupp is a Tallinn, Estonia-based real estate development company with a focus on modern large-scale commercial and residential real estate in the capitals of Estonia, Latvia and Lithuania.

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