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Hanjin Shipping to cut conversion price of 4% convertibles due 2016
By Marisa Wong
Madison, Wis., Nov. 2 - Hanjin Shipping Co., Ltd. said it will adjust the conversion price of its $150 million 4% convertible bonds due 2016 to KRW 24,321 from KRW 29,640, effective Nov. 12.
The price adjustment is due to a rights offering that will settle on Nov. 11.
Hanjin is a marine transportation services company based in Seoul, South Korea.
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