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Published on 5/25/2004 in the Prospect News Convertibles Daily.

New Issue: Ocean Rig prices NOK105 million 7% convertibles

New York, May 25 - Ocean Rig ASA said it priced NOK105 million of 7% senior unsecured convertible bonds that mature June 2007.

The Stavanger, Norway, offshore drilling rig operator said the convertibles were sold to international and Norwegian professional investors in a private placement. They were not registered for sale in the United States.

Ocean Rig stock closed at NOK14.20 on Monday.

Issuer:Ocean Rig ASA
Issue:Senior unsecured convertible bonds
Amount:NOK105 million
Maturity:June 2007
Coupon:7%
Conversion price:NOK19
Call:Up to Dec. 18, 2004 at 130

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