Keppel Land cuts conversion price on 2.5% convertible bonds due 2013

By Devika Patel

Knoxville, Tenn., May 19 - Keppel Land Ltd. said it adjusted the conversion price of its S$300 million in 2.5% convertible bonds due 2013 to S$5.58 per share from S$6.55 per share, effective June 12.

The adjustment is due to a rights issue that was announced on April 28.

Keppel Land is the property development arm of the Singapore-based Keppel Group conglomerate.

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