Kristian Siem’s Siem Industries is preparing a new bond offer to buy back notes in Oslo-listed shipowner Subsea 7.
Siem, which is the company’s biggest shareholder with 21.3%, said it will sell EUR 200m ($223.56m) of debt maturing in 2021.
This will be exchangeable for shares in Subsea 7 and will pay interest of 1.5% to 2.25%.
The privately placed issue could be increased up to EUR 275m depending on demand.
The
