Subsea 7 co-issuers announce change to conversion price on 3.5% bonds

By Ashley Montgomery

Kansas City, Kan., Aug. 8 - Subsea 7 Inc. and Subsea 7 SA adjusted the conversion price on their co-issue of 3.5% convertible bonds, according to a notice.

The conversion price was adjusted to $16.25, effective June 26, as a result of Subsea 7 SA's payment of dividend in kind of shares in Veripos Inc.

Norsk Tillitsmann ASA is the trustee.

Subsea 7 SA is a London-based underwater engineering and construction contractor.

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