Golden Energy begins consent solicitation for 9% notes due 2023

Chicago, March 12 – Golden Energy and Resources Ltd. is starting a consent solicitation to approve certain amendments governing its $150 million outstanding 9% senior secured notes due 2023 (ISIN: XS1748381354), according to a press release.

The company is seeking to modify the terms of the indenture to permit the company to dispose of certain assets that do not form part of the pari passu collateral securing the notes and to acquire receivables owing to the company in connection with the disposal.

A majority of noteholders must give consent for the changes.

Noteholders who give their consents will be paid $3 per $1,000 of notes for which consents have been validly delivered.

The deadline to receive the consent fee is 11 a.m. ET on March 25.

Settlement is expected for March 29.

CLSA Singapore Ptd. Ltd. (+65 6416 7888) and Mandiri Securities Pte Ltd. (+65 6589 3880) are the consent solicitation agents.

Morrow Sodali Ltd. is the information and tabulation agent (+44 20 8089 3287, +852 2319 4130, gear@investor.morrowsodali.com, https://bonds.morrowsodali.com/gear).

Golden Energy is a Singapore-based coal miner operating in Indonesia.

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