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British Airways exercises call option on 5.8% convertibles due 2014
By Tali David
Minneapolis, Aug. 16 - British Airways plc exercised its option to redeem all of its outstanding 5.8% convertible bonds due 2014 guaranteed by International Consolidated Airlines Group, SA, according to a filing with the London Stock Exchange.
The bonds were originally issued in the amount of £350 million
As of Aug. 16, the conversion price for holders of the bonds is £1.89 per ordinary share in IA International Consolidated. The closing price of an ordinary share in International Consolidated was £3.08 on Aug. 15.
Citibank NA, London Branch is the paying and conversion agent.
The subsidiary of International Airlines Group is based in London.
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