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I.M. Skaugen buys back NOK 1 million convertibles
Pittsburgh, June 8 - I.M. Skaugen ASA bought back NOK 1 million of its convertible bond at a rate of 226, according to a news release.
The company currently has NOK 99 million nominal amount of the convertibles outstanding, of which I.M. Skaugen holds NOK 3 million.
The convertibles have a seven-year maturity, with an option to convert into common stock during the first five years. The current conversion price is NOK 60 per share, less NOK 3.50 per share for dividend compensation, according to the release.
I.M. Skaugen is an Oslo, Norway, marine transportation service company.
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