Transpacific lowers conversion price of 6.75% convertibles due 2014

By Devika Patel

Knoxville, Tenn., Oct. 6 - Transpacific Industries Group Ltd. said it adjusted the conversion price of its 6.75% subordinated convertible notes due 2014, effective July 20.

Due to an equity financing that was recently completed, the conversion price of the notes was adjusted to A$14.6519 from A$14.8234. Investors will receive 6,825 shares per A$100,000 in notes.

Transpacific is a Milton, Australia, waste management firm.

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