Edition:
United States

Petropavlovsk Places $125 Mln Convertible Bonds At Coupon 8.25% Per Annum


Thursday, 20 Jun 2019 02:00am EDT 

June 20 (Reuters) - Petropavlovsk PLC ::PLACEMENT OF $125M BONDS AND REPURCHASE.SAYS ANNOUNCES PLACEMENT OF $125 MILLION OF GUARANTEED CONVERTIBLE BONDS DUE 2024 TO BE ISSUED BY PETROPAVLOVSK 2010 LIMITED.SAYS $25 MILLION INCREASE OPTION HAS BEEN EXERCISED IN FULL.SAYS ISSUER ALSO CONCLUDED PREVIOUSLY ANNOUNCED INVITATION TO REPURCHASE ANY AND ALL OF OUTSTANDING $100 MILLION 9.00% CONVERTIBLE BONDS DUE 2020.SAYS BONDS WILL HAVE PRINCIPAL AMOUNT OF $200,000. BONDS WILL BE ISSUED AT PAR AND WILL CARRY A COUPON OF 8.25% PER ANNUM.BONDS WILL BE CONVERTIBLE INTO FULLY PAID ORDINARY SHARES WITH INITIAL EXCHANGE PRICE OF $0.1350, SET AT PREMIUM OF 22.5%. 

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