GlobalSantaFe repurchases $599.2 million zero-coupon convertibles in put

By Jennifer Chiou

New York, June 24 - GlobalSantaFe Corp. said nearly all of its zero-coupon convertible debentures were put back.

The company bought $599.2 million principal amount at maturity of its zero-coupon convertible debentures for $356 million. The repurchase offer expired at 5 p.m. ET on Thursday.

Wholly owned subsidiary Global Marine Inc., which issued the debentures due June 23, 2020, paid $594.25 per $1,000 principal amount at maturity.

Remaining outstanding debentures stand at $800,000.

GlobalSantaFe, an offshore oil and gas drilling contractor, has headquarters in Houston.

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