Malaysia's DutaLand buys back some convertibles, loan stocks due 2013

By Marisa Wong

Madison, Wis., April 18 - DutaLand Bhd. announced that it cancelled RM 1,348,191 of its six-year irredeemable convertible bonds under a put and call option agreement.

Dutaland also cancelled RM 14,800,404 of its six-year irredeemable convertible unsecured loan stocks under the same put and call option.

Following the purchase on April 17, the outstanding principal amount of the bonds is RM 11,986,181, and the outstanding amount of the loan stocks is RM 286,105,994.

The put and call option between the company and its lender was under a restructuring completed in 2007.

DutaLand is based in Kuala Lumpur, Malaysia. Its group of companies is involved in oil palm plantations, property development and property investments.

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