Rubiales Defines Convert Offer

Rubiales Defines Convert Offer

Colombia Equity Bonds Canada

Pacific Rubiales has defined the premium it will offer holders of its 2014 8.0% convertible bonds to convert to equity early. For each CAD1,000 ($988) face value tendered, the Toronto-based Colombian oil producer is offering face value in shares plus 86.7533 additional shares. This compares to the original conversion rate of 77.94 shares per CAD1,000 face value. The offer is open from November 9-29. Pacific Rubiales says it is undertaking the offer “to bring maximum balance sheet flexibilit

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