Singapore Airlines trims conversion price on two convertibles

By Mary-Katherine Stinson

Lexington, Ky., Dec. 12 – Singapore Airlines Ltd. adjusted the conversion price downward effective Dec. 13 on two series of convertibles, according to notices Monday.

The conversion price of the outstanding S$850 million 1.625% convertible bonds due 2025 will be adjusted to S$5.6309 per share from S$5.743.

The conversion price of the outstanding S$6,196,793,517 0% mandatory convertible bonds due 2030 will be adjusted to S$4.7453 per share from S$4.84.

The adjustments are due to the interim dividend of S$0.10 per share announced on Nov. 4 for the financial year ending Sept. 30.

On Nov. 4, S$5.127 was the current market price per share of the 2025 notes, and S$5.111 was the current market price per share of the 2030 notes.

Singapore Airlines is the flag carrier of Singapore.

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