Theolia announces conversion of 1.59 million Oceane bonds in June

By Marisa Wong

Madison, Wis., July 8 - Theolia said that 1,594,951 of its convertible bonds in the Oceane structure were converted in June. A total of 3,079,056 Oceanes have been converted since July 20, 2010.

The terms of the Oceanes were modified in July 2010, as previously reported. The changes included the addition of a put option on Jan. 1, 2015.

The company said that the conversion of the 3,079,056 Oceanes reduces the maximum putable amount by €47.1 million to €129.3 million.

Theolia is an Aix-en-Provence, France-based renewable energy producer.

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