Business Context and Reporting Period
This Form 6-K filing by Ship Finance International Limited (SFL Corp Ltd.) covers the month of September 2013. The registrant is a foreign private issuer incorporated in Bermuda. The filing primarily serves to disclose a press release dated September 10, 2013, regarding the adjustment of conversion prices on two outstanding convertible notes.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, or overall liquidity. The document focuses exclusively on debt instrument terms rather than operational financial performance.
| Debt Instrument | Issue Amount | Coupon | Maturity | Adjusted Conversion Price |
|---|---|---|---|---|
| Senior Unsecured Convertible Notes (2013) | USD 350,000,000 | 3.25% | February 1, 2018 | USD 20.8990 |
| Senior Unsecured Convertible Notes (2010) | USD 125,000,000 | 3.75% | February 10, 2016 | USD 20.69 |
Material Changes
The material change reported is the adjustment of conversion prices for the Company's two outstanding convertible notes. This adjustment was executed pursuant to loan agreements following the declaration of a dividend of USD 0.39 per share, with shares trading ex-dividend as of September 10, 2013.
Guidance, Outlook, and Risks
The filing contains no management commentary, forward-looking guidance, or discussion of general business risks. The only contingency noted is that the adjusted conversion prices are subject to consent by the trustee.
Investor Verification Checklist
- Verify the final consent of the trustee regarding the adjusted conversion prices of USD 20.8990 and USD 20.69.
- Confirm the impact of the USD 0.39 per share dividend on the Company's cash position and liquidity.
- Review the full loan agreements to understand the specific triggers and mechanics for future conversion price adjustments.
- Check subsequent filings for any changes in the Company's debt structure or dividend policy.