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British Land cuts exchange price for 0% convertibles after dividend
New York, Jan. 4 – British Land Co. plc reduced the exchange price for its £350 million of zero-coupon guaranteed convertible bonds due 2020 to £10.3652 per share from £10.5018, according to a notice from the issuer.
The change is being made in connection with the cash dividend of 7.52p per ordinary share payable on Feb. 9 to shareholders of record as of Jan. 5.
In addition to the cut in the exchange price, the threshold amount is lowered to 3.330p per share from 3.374p per share.
Both adjustments are effective from Jan. 4.
British Land is a London-based real estate company.
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