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Ship Finance adjusts conversion price of 3.25% convertibles due 2018
By Marisa Wong
Morgantown, W.Va., Dec. 17 – Ship Finance International Ltd. adjusted the conversion price of its 3.25% senior convertible notes due 2018 to $16.7778, according to a press release.
As announced earlier this month, the company also adjusted the conversion rate for its senior callable convertible bonds due 2016. The conversion price was lowered to $16.61 from $17.06.
The adjustments, which became effective Dec. 8, are due to a dividend payment of $0.45 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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