Eramet increases conversion rate for net-share settled convertibles

By Rebecca Melvin

New York, June 3 – Eramet Group increased the conversion rate of its net-share settled convertible bonds (Odirnans), according to a notice.

Effective May 31, the rate was increased to 1.027 Eramet share per Odirnan, up from 1.015 share per Odirnan.

The rate increase was a result of a dividend of €0.60 per Eramet share that was approved on May 23 and paid on May 31.

Eramet is a Paris-based mining and metallurgical global producer of alloying metals.

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