Becton may extend due date on its convertibles, mulls other options

By Susanna Moon

Chicago, April 9 - Becton Property Group Ltd. said it may extend the maturity of its convertible notes due June 30, 2010, which requires the approval of the noteholders.

The company said it is considering various options for the convertibles as it continues to pursue ways to capitalize the group.

"While markets are stabilizing and valuations are nearing the bottom of the market, the challenges to the capital structure of the group continue. Becton is working to address the capital structure of parts of the business to enable it to access development capital, retain key assets and participate fully in the emerging market upswing," the company said in a press release.

Becton Property is a Melbourne, Australia-based property development and construction company.

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