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Article: Extension of Maturity Date of 9 Percent Convertible Notes.
- Article from:
- Business Wire
- Article date:
- October 15, 1998
CopyrightCOPYRIGHT 1998 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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LONG BEACH, Calif.--(BUSINESS WIRE)--Oct. 15, 1998--China Pacific Inc. (Nasdaq SmallCap:CHNAD) Thursday reported that the maturity date of the approximately $15 million of the company's outstanding 9 percent convertible notes has been extended by two years, from Jan. 15, 1999, to Jan. 15, 2001.
Pursuant to the preliminary agreement dated Oct. 9, 1998, between the company and Bookook Securities Co. Ltd., the representative of the holders of the notes ("noteholders"), the terms and conditions of the notes will be amended as follows:
1. The maturity date of the notes will be extended by two years,
from Jan. 15, 1999, to Jan. 15, 2001.
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