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BP Capital lowers conversion price on 1% guaranteed bonds due 2023
By Wendy Van Sickle
Columbus, Ohio, May 10 – BP Capital Markets plc said it lowered the conversion price of its £400 million 1% guaranteed non-dilutive bonds due 2023 to £4.2485 from £4.2565.
As a result, the conversion ratio was adjusted to 23,537.7192 from 23,493.4806, according to a notice by the issuer.
The change resulted from a cash dividend of $0.1025 per ordinary share, translated into pounds sterling to £0.078725, with an ex-date of May 9.
The notes are guaranteed by parent company BP plc, a London-based oil and gas company.
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