Pacific Basin holders put all $123.8 million convertibles due 2018

By Marisa Wong

Morgantown, W.Va., Sept. 23 – Pacific Basin Shipping Ltd. announced that holders of all $123.8 million of its 1.875% guaranteed convertible bonds due 2018 exercised their put option during the exercise period from Aug. 25 to Sept. 23 (both days inclusive).

The bonds will be redeemed at par plus accrued interest on Oct. 24.

Pacific Basin Shipping is a dry bulk shipping company based in Hong Kong.

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