Beach Energy cuts conversion price on 3.95% senior convertible notes

By Marisa Wong

Madison, Wis., Sept. 24 - Beach Energy Ltd. said it lowered the conversion price of its A$150 million 3.95% senior convertible notes due 2017 to A$1.97 per share from A$2.00 per share.

The new conversion price is effective from Sept. 3.

The adjustment was due to the announcement of a dividend on Aug. 28.

Based in Adelaide, South Australia, Beach Energy is an oil and gas exploration and development company.

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