Ezra will not exercise cash settlement option for 4% convertibles

By Marisa Wong

Madison, Wis., Feb. 13 - Ezra Holdings Ltd. said that it entered into a covenant to its $100 million 4% convertible bonds due 2014 on Feb. 6.

Under the covenant, which was made in favor of the bondholders, the company will not exercise its cash settlement option in full or in part. The cash settlement option was part of the bonds' trust deed dated Nov. 25, 2009.

Ezra is a provider of offshore support for the oil and gas industry with headquarters in Singapore.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.