Oslo-listed offshore company, Subsea 7 has put more money into buying back its bonds.
Subsea 7 announced that it had made market purchases on Thursday to secure part of its $700 million convertible five-year issue, which is due in 2017.
The company, which holds 2.8 percent of the issue itself, interest on the bonds is one percent.
Back in September, Subsea 7 put $79.1 million into buying back its 3.5 percent 2014 series of convertible bonds. The completion of the deal saw the company owning 28.8 percent of the notes.