Ship Finance lowers conversion price on convertibles due to dividends

By Tali David

Minneapolis, March 9 - Ship Finance International Ltd. adjusted the conversion rate on its senior unsecured callable convertible bonds due 2016, according to a notice from trustee Norsk Tillitsmann AS.

The conversion price, effective March 7, is $23.94.

The company lowered the price due to a dividend of $0.30 per share.

Ship Finance is a Bermuda-based owner and operator of vessels, including crude oil tankers, container vessels and drybulk carriers.

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