SFL - Early Conversion of Convertible Notes
(Thomson Reuters ONE) -
Ship Finance International Limited (NYSE: SFL) ("Ship Finance" or the "Company")
announced today that it has entered into separate agreements with certain
holders of its 3.25% Senior Unsecured Convertible Notes due 2018 (the "Notes")
for an early conversion of a portion of the outstanding Notes. The Company is
strengthening its balance sheet by converting approximately $121 million
aggregate principal amount of the Notes held by such holders into shares of
common stock of the Company ("Shares") at prevailing market prices. The number
of issued and outstanding Shares following these conversions is estimated to be
approximately 103 million.
October 10, 2017
The Board of Directors
Ship Finance International Limited
Hamilton, Bermuda
Questions can be directed to Ship Finance Management AS:
Investor and Analyst Contacts:
Harald Gurvin, Chief Financial Officer, Ship Finance Management AS
+47 23 11 40 09
André Reppen, Senior Vice President, Ship Finance Management AS
+47 23 11 40 55
Media Contact:
Ole B. Hjertaker, Chief Executive Officer, Ship Finance Management AS
+47 23 11 40 11
About Ship Finance
Ship Finance International Limited has a unique track record in the maritime
industry, being consistently profitable and paying dividends every quarter since
2004. The Company's fleet of around 70 vessels is split between tankers,
bulkers, container vessels and offshore assets, and Ship Finance's long term
distribution capacity is supported by a portfolio of long term charters and
significant growth in the asset base over time.
More information can be found on the Company's website: www.shipfinance.bm
Cautionary Statement Regarding Forward Looking Statements
This press release may contain forward looking statements. These statements are
based upon various assumptions, many of which are based, in turn, upon further
assumptions, including Ship Finance management's examination of historical
operating trends. Although Ship Finance believes that these assumptions were
reasonable when made, because assumptions are inherently subject to significant
uncertainties and contingencies which are difficult or impossible to predict and
are beyond its control, Ship Finance cannot give assurance that it will achieve
or accomplish these expectations, beliefs or intentions.
Important factors that, in the Company's view, could cause actual results to
differ materially from those discussed in this presentation include the strength
of world economies and currencies, general market conditions including
fluctuations in charter hire rates and vessel values, changes in demand in the
tanker market as a result of changes in OPEC's petroleum production levels and
worldwide oil consumption and storage, changes in the Company's operating
expenses including bunker prices, dry-docking and insurance costs, changes in
governmental rules and regulations or actions taken by regulatory authorities,
potential liability from pending or future litigation, general domestic and
international political conditions, potential disruption of shipping routes due
to accidents or political events, and other important factors described from
time to time in the reports filed by the Company with the United States
Securities and Exchange Commission.
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Ship Finance International Limited via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 10.10.2017 - 15:00 Uhr
Sprache: Deutsch
News-ID 563103
Anzahl Zeichen: 4168
contact information:
Town:
Hamilton
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 240 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"SFL - Early Conversion of Convertible Notes"
steht unter der journalistisch-redaktionellen Verantwortung von
Ship Finance International Limited (Nachricht senden)
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