Sentence examples for holders of convertible from inspiring English sources
Instead, some creditors such as the holders of convertible bonds will automatically become the new owners.
Suntech has been driven to the financial brink by an obligation to pay more than $541 million to holders of convertible bonds at the end of this week.
HealthSouth owes about $350 million to holders of convertible bonds that mature on Tuesday, and another $17 million in interest to holders of senior subordinated notes.
Citigroup said all private holders of convertible preferred securities, with a total liquidation value of $12.5 billion, have agreed to the swap.
The money will be used to repay holders of a convertible bond, and also advance its drilling programme in the Democratic Republic of Congo and Vietnam.
Holders of the convertible notes have been offered 108 shares of Ford common stock and $80 for each $1,000 in notes to be exchanged.
The decision on how to handle the matter could have significant consequences on the company's fate: a delisting would let the holders of bonds convertible to stock force Adelphia to buy back $1.4 billion in debt for cash.
The lawyers explain that holders of the convertible notes who participate in the RTL Offer will receive total consideration of $55 million, comprised of $25 million in cash and $30 million in secured notes issued by Roust Trading – an estimated recovery of 35.4% – while holders who do not participate in the RTL Offer will receive their pro rata share of $16.9 million in cash.
If the issuer's stock price rises to the conversion threshold, holders of the convertibles will sooner or later swap the bonds for stock and dilute the existing shareholders.
In the death spiral variety, the holder of the convertible is entitled to $5 million worth of shares, whatever their price.
The company added that its lenders under the credit line are prohibiting Family Golf to make any payment to holders of its 5.75percentt convertible subordinated notes.
