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Published on 8/13/2021 in the Prospect News Convertibles Daily.

BP Capital Markets ups conversion price of 1% convertibles due 2023

By Marisa Wong

Los Angeles, Aug. 13 – BP Capital Markets plc increased the conversion price of its £400 million 1% guaranteed non-dilutive bonds due 2023 guaranteed by BP plc to £4.4273 from £4.3822, according to a press release.

As a result, the conversion ratio was also lowered to 22,587.1299 from 22,819.5883.

The adjustments, effective as of Aug. 12, are due to a cash dividend of $0.0546 per ordinary share.

BP Capital Markets is a financing arm of the London-based oil and gas company.


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