Petrominerales lowers conversion prices of 2.625%, 3.25% convertibles

By Susanna Moon

Chicago, June 27 - Petrominerales Ltd. lowered the conversion prices of its 2.625% senior unsecured convertible bonds due 2016 and its 3.25% senior unsecured convertible bonds due 2017.

The conversion price is now $30.8105 for the 2.625% convertibles and $16.5469 for the 3.25% convertibles, effective July 1, according to separate notices from trustee Norsk Tillitsmann ASA.

The conversion price was adjusted from $31.4636 for the 2.625% convertibles and $16.8976 for the 3.25% convertibles, effective as of April 1.

The conversion prices were adjusted as a result of the company's quarterly dividend payments.

Petrominerales is an oil and gas company based in Bogota, Colombia.

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