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Noreco Wants $420M Debt Conversion To Avoid Bankruptcy

By Igor Kossov ( December 15, 2014, 2:02 PM EST) -- Norwegian oil company ASA, also known as Noreco, needs to convert all of its 3.1 billion kronor ($420 million) of debt into equity in order to avoid bankruptcy or regulatory crackdown, the company's board said on Monday, as low oil prices continue to batter its bottom line....

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