What happens on the maturity of Infratil Bonds?
Because the Bonds are convertible debt obligations Infratil has the right to either repay the Bonds with cash or to redeem the Bonds by issuing Infratil shares. In certain situations (which are detailed in the Investment Statements and Prospectus) Bondholders may demand redemption for shares. In the past four of the Infratil Bonds have matured and in each case they have been repaid for cash.
