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

By Marisa Wong

Madison, Wis., April 28 - Swiber Holdings Ltd. said it lowered the conversion price of its $100 million 5% convertible bonds due 2014 to S$0.78 per share from S$0.82 per share.

The adjustment, resulting from a special dividend, is effective retroactively to April 9.

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

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