PA Resources Receives Sek 1,164 Million Through Convertible Bond Issue

Source: www.gulfoilandgas.com 1/5/2009, Location: Europe

A preliminary calculation shows that the rights issue of convertible bonds has been fully subscribed. Through the issue, PA Resources will receive proceeds of approximately SEK 1,164 million (before issue costs). The final subscription outcome will be made public on or around 8 January, 2009.

Key terms and conditions:
The convertible bonds carry interest at an annual rate of 11 percent from 15 January 2009 until 15 January, 2014. Interest is paid to the holder on 15 January each year, starting on 15 January 2010 and the last time on 15 January 2014. The convertible bonds fall due for payment of the nominal amount on 15 January 2014 unless conversion or repayment has occurred prior to this date. Conversion to shares may be requested during the period 1 – 30 September annually. The conversion price is SEK 16 per share.


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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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