BTS Group holders convert 1.12 billion baht of convertibles due 2016

By Marisa Wong

Madison, Wis., Sept. 4 - BTS Group Holdings PCL said that 11 holders of its convertible bonds due 2016 exercised their conversion rights in the period between Aug. 29 and Sept. 3. The holders elected to convert 1,115,000,000 baht of the bonds at a price of 5.12 baht per share, according to a company notice.

The bonds were converted into 217,773,434 ordinary shares on Sept. 3.

BTS issued 10 billion baht of the bonds to investors outside of Thailand in January 2011. Following the latest conversion, the outstanding principal amount of the bonds is 9.47 billion baht.

BTS is a Bangkok-based mass transit services provider and property development company.

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