Marine Harvest to convert €224.6 million convertibles, redeem €300,000

By Tali David

Minneapolis, Nov. 22 - Marine Harvest ASA is exercising its right to redeem the remaining €300,000 million of its convertible bonds due Feb. 23, 2015, according to a notice.

The company said holders of €224.6 million of the €224.9 million bonds elected to convert their bonds by Nov. 21. Marine Harvest will issue about 355,435,984 million new shares at a conversion price of €0.6319 on Dec. 3.

The remaining €300,000 will be redeemed at par plus accrued interest.

The final settlement date is Dec. 11.

Marine Harvest is an Oslo-based seafood and salmon farming company.

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