Subsea 7 buys $22.6 million of 1% convertibles due 2017

New York, July 3 – Subsea 7 SA bought $22.6 million of its 1% convertible bonds due 2017 in market purchases.

The company paid an average price of 99.75, according to an announcement.

Following the latest transactions, the company holds $342 million, or 48.9%, of the original $700 million issue.

Subsea 7 is a London-based contractor that provides seabed-to-surface engineering, construction and services to the offshore energy industry.

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