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Subsea 7 buys back $4.2 million more 1% convertibles due 2017 at 96.63
By Susanna Moon
Chicago, July 1 – Subsea 7 SA said it repurchased another $4.2 million of its $700 million of 1% convertible bonds due 2017.
The market purchases were made at an average price of 96.63 on Thursday, according to a company notice.
After the repurchase, the company holds about $234 million, or 33.4%, 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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