Siem adjusts exchange price for 2.25% bonds after Subsea 7 dividend

New York, April 26 – Siem Industries Inc. said that it adjusted the exchange price for its 2.25% senior secured exchangeable bonds due 2021 exchangeable for Subsea 7 Inc. shares.

Effective April 26, the exchange price is €9.8596, according to a notice from the issuer.

Subsea 7 paid a NOK 5.00 per share dividend on April 26, requiring the change.

Siem Industries is a George Town, Cayman Islands diversified industrial holding company with interests in oil and gas, renewable energy, shipping, mining and finance.

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