China’s Kunlun lowers conversion price of 1.625% convertibles due 2019

By Wendy Van Sickle

Columbus, Ohio, June 14 – Kunlun Energy Co. Ltd. will lower the conversion price for its RMB 3.35 billion of 1.625% dollar-settled convertible bonds due 2019, according to a company announcement.

Effective June 15, the conversion price will be HK$7.05, down from HK$7.13.

The adjustment is the result of a final dividend of HK7.40 cents per share for the year ended Dec. 31, 2016, which was approved on June 2.

Kunlun is a subsidiary of Beijing-based China National Petroleum Corp.

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