Siem Industries receives puts of $146.2 million of exchangeables

New York, Sept. 12 – Siem Industries Inc. said the holders of its senior secured exchangeable bonds due 2019 put back $146.2 million of the securities to the company.

The issuer will pay par plus accrued interest.

Following the put, $443 million of the original $445 million of exchangeables have been repurchased or redeemed, leaving $2 million outstanding.

The bonds are exchangeable for the shares of Subsea 7 SA.

Siem Industries is a George Town, Cayman Islands, diversified industrial holding company with interests in oil and gas and renewable energy and shipping, mining and finance.

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