361 Degrees lowers conversion price of 4.5% convertibles due 2017

By Marisa Wong

Madison, Wis., Sept. 6 - 361 Degrees International Ltd. announced it adjusted the conversion price of its $150 million 4.5% convertible bonds due 2017.

The conversion price was lowered to HK$3.53 per share from HK$3.70 per share, effective Sept. 11.

The price adjustment follows from the declaration of an interim dividend for the six months ended June 30.

After the adjustment, the maximum number of shares to be issued upon full conversion of the outstanding bonds will be 329,694,051.

361 Degrees is a sportswear company based in Xiamen City, China.

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