Norwegian salmon farmer, Marine Harvest exercises option in loan agreement.
In early November, Marine Harvest exercised its right to redeem outstanding bonds under the 340 million euro five-year convertible bond issued in 2015.
Based on conversion notices received and in accordance with the bond agreement, Marine Harvest has converted EUR 221.2 million of the original outstanding loan of the EUR 340 million convertible bond from bonds to shares.
Bondholders representing an aggregate principal loan amount of EUR 211.2 million elected to convert their bonds into shares.
The conversion price is EUR 13.0630 per share.
Marine Harvest will accordingly issue approximately 16.2 million new shares. The new shares will be issued on or about 22 November 2018.