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Siem adjusts exchange price of 1% exchangeables due 2019 to $28.29
By Marisa Wong
Madison, Wis., Sept. 25 - Siem Industries Inc. adjusted the exchange price of its 1% senior secured exchangeable bonds, issue 2012/2019, according to a notice from trustee Norsk Tillitsmann ASA.
The new exchange price is $28.29, effective as of July 3.
The bonds are exchangeable into shares of Subsea 7 SA.
The adjustment is due to a dividend payment made by Subsea 7 on July 12.
Siem is a diversified industrial holding company with main interests in the oil and gas services industry, the ocean transport of refrigerated cargo and automobiles.
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