Marine Harvest completes €375 million bond conversion

The share capital increase was registered in the Norwegian Register of Business Enterprises on May 19.

Salmon farming giant Marine Harvest said it completed the issuing of a number of new shares under the terms of its €375 million ($418.5 million) five-year convertible bond,which matures on May 6, 2019.

Earlier in May, the company announced bondholders representing an aggregate principal loan amount of €353.9 million ($394.9 million) under the €375 million ($418.5 million) five-year convertible bond, had elected to convert their bonds into shares.

The conversion has now been completed and Marine Harvest's share capital has been increased by NOK 284 million (€30.3 million/$33.8 million) through the issuance of 37,867,238 new shares.

The share capital increase was registered in the Norwegian Register of Business Enterprises on May 19.

Following the registration Marine Harvest has a share capital of around NOK 3.7 billion (€394.2 million/$440 million) divided into 490,167,777 shares each with a par value of NOK 7.50 (€0.8/$0.89).

The entire outstanding principal amount under the convertible bond has been converted to equity.

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