Berlian Laju unit cuts conversion price on 12% guaranteed convertibles

By Marisa Wong

Madison, Wis., July 29 - PT Berlian Laju Tanker Tbk.'s wholly owned subsidiary, BLT International Corp., will adjust the conversion price on its $125 million 12% guaranteed convertible bonds due 2015, according to a notice.

The conversion price will be adjusted to Rp 512 from Rp 737.

The conversion price adjustment follows the renounceable rights issue by Berlian Laju of up to 5,981,591,235 rights shares at a price of Rp 220.

The price adjustment will be effective on the rights shares issue date.

Berlian Laju is a Jakarta, Indonesia-based liquid cargo shipping company.

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