Golden Ocean cuts conversion price of 3.07% convertibles due 2019

By Susanna Moon

Chicago, Feb. 24 – Golden Ocean Group Ltd. said it adjusted the conversion price of its 3.07% senior convertible bonds due 2019.

The conversion price was reduced to $17.63 per share from $19.93 per share, effective Feb. 23.

Golden Ocean closed a NOK 1,718,420,000 private placement of 343,684,000 new shares at NOK 5.00 per share, according to company notice.

The convertibles were issued in 2014.

Golden Ocean is a dry bulk shipping company incorporated in Hamilton, Bermuda.

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