Golden Ocean cuts conversion price of 3.07% bonds due to dividend

By Susanna Moon

Chicago, March 5 – Golden Ocean Group Ltd. said it lowered the conversion price of its 3.07% senior convertible bonds due 2019 due to a dividend payout.

The conversion price will be adjusted to $87.19 per share from $88.15, effective on March 2, which was the ex-dividend date, according to a company press release.

The company said it announced a dividend of $0.10 per share on Feb. 20.

The convertibles were issued in 2014.

Golden Ocean is a dry bulk shipping company incorporated in Hamilton, Bermuda.

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