Ship Finance lowers conversion price of 3.25% convertibles due 2018

By Angela McDaniels

Tacoma, Wash., Sept. 12 – Ship Finance International Ltd. lowered the conversion price of its $350 million 3.25% senior convertible notes due 2018 to $15.3109 from $15.7835, according to a 6-K filing with the Securities and Exchange Commission.

The adjustment was done because the company declared a dividend of $0.45 per share. The shares began trading ex-dividend on Monday.

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

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.