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Hansteen adviser fixes conversion price of €100 million of 4% bonds
By Susanna Moon
Chicago, May 16 – Hansteen (Jersey) Securities Ltd. said the conversion price was set at £0.8892 for its €100 million 4% convertible bonds due 2018.
As a result of questions by bondholders about previous adjustments to the exchange price, Hansteen appointed Conv-Ex Advisors Ltd. as an independent adviser to determine the exchange price, according to a company notice.
In addition, the threshold amount for each fiscal year is £0.026, effective April 20.
Last May, the company said the conversion price was adjusted to £0.9135 from £0.9334, effective April 22, 2016, due to a second interim dividend payout.
London-based Hansteen is a European industrial real estate investment trust.
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