CHC Group trims conversion price of HK$100 million convertibles

By Rebecca Melvin

New York, May 20 – CHC Group Ltd. adjusted the conversion price for its HK$100 million convertibles bonds, according to a company release.

Effective May 20, the conversion price for the notes is $4.445 per share, lowered from $4.50 per share.

The adjustment was made in connection with a placement of shares.

The new conversion rate is 224.99 shares of common stock per $1,000 principal amount of notes, compared to 222.22 shares previously.

CHC is a George Town, Cayman Islands-based provider of commercial helicopter services to the offshore oil and gas industry.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.