Subsea 7 adjusts conversion rate on $500 million 2.25% convertibles

By Tali David

Minneapolis, July 5 - Subsea 7 SA adjusted the conversion rate on its $500 million of 2.25% convertible senior notes due 2013 to $21.76, according to a press release.

The adjustment was the result of a $0.60 per share dividend paid on July 5.

Subsea 7 SA is a London-based underwater engineering and construction contractor.

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