Ship Finance to redeem all 8½% senior notes via convertible offering

By Tali David

Minneapolis, Jan. 24 - Ship Finance International Ltd. plans to use the proceeds of a convertible note offering to repurchase all of its outstanding 8½% senior notes due 2013, according to a press release.

Any remaining proceeds will be used for general corporate purposes, including working capital.

Ship Finance is a Bermuda-based owner and operator of vessels, including crude oil tankers, container vessels and drybulk carriers.

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