Subsea 7 buys back more bonds

Offshore company, Subsea 7 has added an extra $19.4 million to its total of bonds bought back
Subsea 7 buys back more bonds

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.  

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by Laura Stackhouse

readmt.com Editor

Laura Stackhouse is the Web Editor of readmt.com, an official publication of the International Marine Purchasing Association (IMPA). To discuss news, features or contributing to readmt.com please get in touch.

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