Golden Ocean lowers conversion price on 3.625% convertibles due 2012

By Marisa Wong

Madison, Wis., Sept. 20 - Golden Ocean Group Ltd. announced that it adjusted the conversion price on its 3.625% callable convertible bonds due 2012.

The conversion price was adjusted to $6.23 from $6.46 per share, effective Sept. 9.

The price adjustment was the result of a dividend payment of $0.05 per share announced on Aug. 26.

Based in Hamilton, Bermuda, Golden Ocean is a dry bulk shipping firm.

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