MIC Announces Conversion Ratio Adjustment to Convertible Senior Notes Due 2023

Rhea-AI Summary

Macquarie Infrastructure Corporation (NYSE: MIC) has announced an adjustment to the conversion ratio for its 2.00% Convertible Senior Notes due 2023. Effective January 11, 2021, the conversion ratio will increase to 12.6572 shares per $1,000 of principal amount. This change reflects the special dividend paid on January 8, 2021, to common stockholders. MIC operates in the U.S. providing airport and energy services. For more information, visit www.macquarie.com/mic.

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Macquarie Infrastructure Corporation (NYSE: MIC) announced an adjustment to the conversion ratio applicable to its 2.00% Convertible Senior Notes due 2023. The conversion ratio for the Notes increased to 12.6572 shares of common stock per $1,000 of principal amount. The increase is effective January 11, 2021. This adjustment reflects the impact of the special dividend paid by the Company on January 8, 2021 to holders of its common stock.

About MIC

MIC owns and operates businesses providing basic services to customers in the United States. Its businesses consist of an airport services business, Atlantic Aviation, and entities comprising an energy services, production and distribution segment, MIC Hawaii. For additional information, please visit the MIC website at www.macquarie.com/mic.

MIC is not an authorized deposit-taking institution for the purposes of the Banking Act 1959 (Commonwealth of Australia). The obligations of MIC do not represent deposits or other liabilities of Macquarie Bank Limited ABN 46 008 583 542 (MBL). MBL does not guarantee or otherwise provide assurance in respect of the obligations of MIC.

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FAQ

What is the new conversion ratio for MIC's Convertible Senior Notes?

The conversion ratio for MIC's 2.00% Convertible Senior Notes due 2023 has increased to 12.6572 shares of common stock per $1,000 of principal amount.

When did the adjustment for MIC's Convertible Senior Notes take effect?

The adjustment to the conversion ratio took effect on January 11, 2021.

What was the reason for the adjustment in the conversion ratio for MIC's notes?

The adjustment reflects the impact of the special dividend that MAC paid on January 8, 2021, to its common stockholders.

What are the main businesses operated by Macquarie Infrastructure Corporation?

MIC operates in airport services through Atlantic Aviation and offers energy services through MIC Hawaii.