Singapore's Swiber adjusts conversion price of 5% bonds due 2014

By Jennifer Chiou

New York, March 20 - Swiber Holdings Ltd. announced that as a result of an approved placement of shares, the conversion price of its $100 million of 5% convertible bonds due 2014 will be adjusted to S$0.847 per share from S$0.864 per share upon completion of the transaction.

The placement involves up to 101.07 million new shares.

Swiber is a Singapore-based offshore oil and gas company with its own compliment of marine support assets.

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