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Subsea 7 buys back $15.4 million of 1% convertible bonds due 2017
New York, Sept. 30 – Subsea 7 SA said it repurchased $15.4 million of its 1% convertible bonds due 2017 in the market on Tuesday.
The average price paid was 91.3, Subsea 7 announced in a news release.
Following the buyback, the company holds $117.2 million, or 16.7%, of the original $700 million of the convertibles, which were issued in 2012.
Subsea 7 is a Luxembourg-based contractor that provides seabed-to-surface engineering, construction and services to the offshore energy industry.
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