Published:
Swiber to raise US$100m through bonds due 2014
These bonds are convertible to 5% share of common stock.
According to Swiber, “each holder of the Bonds has the right to require the Company to redeem all of such holder's Bonds at 100% of their principal amount including any unpaid accrued interest.
The principal amount of Bonds outstanding is US$100 million. In the event all the holders of the outstanding Bonds exercise their Change of Control Put Right following a Change of Control, the aggregate principal amount of Bonds that the Company will be required to redeem prior to their maturity is US$100 million.”
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