Keppel Land cancels portion of 1.875% bonds following conversion

By Marisa Wong

Madison, Wis., April 25 - Keppel Land Ltd. announced that it canceled S$200,000 of its S$500 million 1.875% convertible bonds due 2015 after a holder elected to convert the bonds.

The conversion price was S$6.72.

As of April 25, the outstanding principal amount of the bonds is S$499.8 million.

The bonds were issued in November 2010.

Keppel Land is the property development arm of the Singapore-based Keppel Group conglomerate.

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