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Ship Finance lowers conversion price of convertibles due to dividend
By Tali Rackner
Norfolk, Va., Dec. 10 – Ship Finance International Ltd. adjusted the conversion rate for its senior unsecured callable convertible bonds due 2016, according to a notice from trustee Nordic Trustee ASA.
The conversion price, effective Dec. 10, was lowered to $18.47 from $18.95.
The company lowered the price due to a dividend of $0.41 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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