Innovate Capital to early redeem 6% convertibles on Nov. 17 at 105

By Mary-Katherine Stinson

Lexington, Ky., Oct. 18 – Innovate Capital Pte. Ltd. announced the early redemption of its 6% guaranteed convertible bonds due 2024 (ISIN: XS1628861004), according to a notice.

The bonds will be redeemed Nov. 17 at 105 plus accrued and unpaid finance charges.

The bonds, convertible to ordinary shares of PT Bumi Resources Tbk., were fist issued Dec. 11, 2017.

As of Oct. 17, there were $222,664,245 of the original $630,641,203 bonds outstanding.

The conversion price is Rp. 80 and the closing price of the shares on the Indonesian Stock Exchange was Rp. 163 on Oct. 17.

Madison Pacific Trust Ltd. is trustee of the issue.

PT Bumi Resources is a Jakarta, Indonesia-based mining company.

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