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I.M. Skaugen buys back NOK 5 million convertibles
Pittsburgh, Sept. 7 - I.M. Skaugen ASA bought back NOK 5 million of its convertible bonds, according to a company news release.
The repurchase was at a price of 232. If converted the bonds would be exchanged for 83,333 shares.
The Oslo, Norway, marine transportation company originally sold NOK 124 million of the convertibles in July 2001. There is currently NOK 97.5 million outstanding of which I.M. Skaugen owns NOK 23.5 million.
The announcement is the latest in a series covering repurchases. On Sept. 3 I.M. Skaugen said it bought back NOK 6.5 million of its convertibles at a price of 232. On Sept. 1, I.M. Skaugen said it bought back NOK 2 million of its convertibles.
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