First Gen holders put $72.5 million of 2.5% convertibles due 2013

By Marisa Wong

Madison, Wis., Feb. 14 - First Gen Corp. said that holders exercised a put option for $72.5 million of the company's 2.5% convertible bonds due Feb. 11, 2013 as of Feb. 11, the put option date.

The redemption amount is $578,027.75 for each $500,000 of bonds, along with accrued interest.

After the redemption $113.5 million of the bonds will remain outstanding.

The Bank of New York Mellon is the trustee for the convertible bonds.

First Gen is a Pasig, Philippines-based power generation company.

© 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.