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BP Capital raises conversion price on 1% convertibles due to dividend
Chicago, Nov. 11 – BP Capital Markets plc is raising the conversion price on its £400 million 1% guaranteed non-dilutive bonds due 2023 (ISIN: XS1410519976) guaranteed by BP plc as the result of a cash dividend on its ordinary shares, according to a notice.
Effective Nov. 10, the conversion price will be £4.5820, raised from £4.5606.
The conversion ratio has been lowered to 21,824.5308 from 21,926.9394.
BP paid a dividend of $0.06006 per ordinary share.
BP Capital Markets is a financing arm of the London-based oil and gas company.
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