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SFL adjusts conversion rate for 4.875% convertibles
By William Gullotti
Buffalo, N.Y., Jan. 10 – SFL Corp. Ltd. adjusted the conversion rate for its $164 million 4.875% convertible notes due May 1, 2023 (ISIN: US824689AG86), according to a 6-K filing with the Securities and Exchange Commission.
The adjustment is due to SFL’s declaration of a dividend of $0.18 per share, and the shares of the company trading ex-dividend on the New York Stock Exchange as of Dec. 14.
The conversion rate for the notes was adjusted to 75.9685.
The new conversion rate took effect on Dec. 14.
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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