Thoresen Thai buys back portion of 2.5% convertibles due 2012

By Marisa Wong

Madison, Wis., Nov. 14 - Thoresen Thai Agencies PCL said it repurchased and canceled $3.1 million of its $34.3 million of outstanding 2.5% convertible bonds due 2012.

Thoresen Thai originally issued $169.8 million of the convertible bonds in 2007.

The principal amount of bonds remaining outstanding after the repurchase and cancelation is $31.2 million.

The conversion price of the bonds is 50.35 baht per share.

Thoresen is a Bangkok-based shipping company.

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