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Ocean Rig to redeem remaining NOK 300 million 11% callable bonds due 2009
By Jennifer Chiou
New York, Aug. 24 - Ocean Rig said it will use $50 million drawn under the final $100 million tranche of its new $430 million bank loan to redeem all NOK 300 million of its 11% senior unsecured callable bonds due Oct. 15, 2009.
The company will redeem the bonds, which were issued on Sept. 20, 2004, on Sept. 6.
Ocean Rig is a Stavanger, Norway, operator of deep-water drilling rigs.
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