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Subsea 7 buys back $79.1 million of 3.5% convertible bonds due 2014
By Tali Rackner
Norfolk, Va., Sept. 26 – Subsea 7 SA bought back $79.1 million of its 3.5% convertible bond issue due 2014, according to a notice.
The bonds were redeemed at par on Sept. 25.
Following the transaction, the company has $79.1 million, representing 28.8%, of the convertibles outstanding.
Subsea 7 SA is a London-based underwater engineering and construction contractor.
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