Thoresen Thai to redeem remaining 2.5% convertibles in installments

By Marisa Wong

Madison, Wis., Aug. 25 - Thoresen Thai Agencies PCL said it will redeem each of its outstanding 2.5% convertible bonds due 2012 in installments on Sept. 24, Sept. 24, 2011 and Sept. 24, 2012.

As of Aug. 24, a total of $102.9 million of the original $169.8 million issued convertibles remains outstanding.

The principal amount of each bond is $300,000, and the redemption price for each bond on Sept. 24, the first redemption date, will be $109,640.

The company said it will pay the first redemption amount in cash.

Thoresen Thai is a shipping company based in Bangkok.

© 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.