BW Offshore trims conversion price on convertibles due to dividends

By Marisa Wong

Los Angeles, Sept. 7 – BW Offshore Ltd. lowered the conversion price on its $297.4 million senior convertible bonds due 2024 (ISIN: NO0010867948) to $8.2676 from $8.4379, effective Sept. 7, according to a notice.

The adjustment results from a dividend in cash of $0.035 and a dividend in kind of 0.0102 shares distributable to shareholders of record on Sept. 1.

BW Offshore is a provider of floating production services to the oil and gas industry. The company has headquarters in Singapore and Oslo.

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