SFL further adjusts conversion rates for 4.875%, 5.75% convertibles

By Taylor Fox

New York, Dec. 15 – SFL Corp. Ltd. adjusted the conversion rates for its $164 million 4.875% convertible notes due May 1, 2023 and $225 million 5.75% convertible notes due Oct. 15, 2021, according to a 6-K filing with the Securities and Exchange Commission.

The conversion rate for the 4.875% notes due 2023 was adjusted to 70.5161, and the conversion rate for the 5.75% notes due Oct. 15, 2021 was adjusted to 65.8012. The new conversion rates are effective as of Dec. 11.

The adjustments are due to SFL’s declaration of a dividend of $0.15 per share, and the shares of the company trading ex-dividend on the New York Stock Exchange as of Dec. 11.

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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