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BP Capital adjusts conversion price of 1% bonds due 2023
By Rebecca Melvin
New York, Aug. 14 – BP Capital Markets plc said it adjusted the conversion price of its £400 million 1% guaranteed non-dilutive bonds due 2023 to £4.2285 from £4.1905, effective Aug. 13.
The conversion ratio was adjusted to 23,649.0481 from 23,863.5008, according to a notice.
The change resulted from a cash dividend of $0.0525 per ordinary share, translated into pounds sterling to £0.040093, with an ex-date of Aug. 13.
The notes are guaranteed by parent company BP plc, a London-based oil and gas company.
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