Ship Finance adjusts conversion price for 3.25% convertible notes

By Jennifer Chiou

New York, March 11 - Ship Finance International Ltd. lowered the conversion price for its $350 million of 3.25% senior unsecured convertible notes due Feb. 1, 2018, according to a 6-K filing with the Securities and Exchange Commission.

The conversion price was changed to $19.9814, effective Monday.

The adjustment is due to a dividend of $0.40 per share.

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

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