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Subsea 7 buys back $10 million more of 1% convertible bonds due 2017
New York, Oct. 5 – Subsea 7 SA said it repurchased $10 million of its 1% convertible bonds due 2017 in the market on Friday.
The average price was 91.05, Subsea 7 announced in a news release.
After repurchasing the convertibles, the company holds $127.2 million, or 18.2%, of the $700 million originally issued in 2012.
Subsea 7 previously announced on Sept. 30 that it had repurchased $15.4 million of the convertibles at an average price of 91.3.
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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