SFL adjusts conversion rates for 4.875%, 5.75% convertible notes

By Sarah Lizee

Olympia, Wash., Feb. 24 – SFL Corp. Ltd. adjusted the relevant conversion rates related to its outstanding convertible notes, according to a press release.

The conversion rate for the $164 million 4.875% notes due May 1, 2023 was adjusted to 63.3767, and the conversion rate for the $225 million 5.75% notes due Oct. 15, 2021 was adjusted to 64.6803.

The adjustments are due to SFL’s declaration of a dividend of $0.35 per share, and the shares of the company trading ex-dividend on the New York Stock Exchange as of Dec. 13.

Formerly Ship Finance International Ltd., SFL is an owner and operator of vessels and offshore assets. The company is based in Hamilton, Bermuda.

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