BP appoints Law Debenture as trustee of a cash settled convertible bond
24 May 2016
BP Capital Markets p.l.c.
£400,000,000 1.00 per cent. Guaranteed Non-Dilutive Convertible Bonds due 2023
Guaranteed by BP p.l.c.
We have been appointed as trustee for a new non-dilutive bond issue by BP Capital Markets p.l.c. Converting bondholders will receive the cash equivalent of the underlying BP shares rather than the shares themselves. As conversion rights in respect of the bonds will be cash settled, the issue and conversion of the bonds will not result in the issuance of any new shares by BP.