Hurricane Energy buys back $28.5 million more 7.5% convertibles

By Rebecca Melvin

Concord, N.H., Dec. 10 – Hurricane Energy plc’s Hurricane GLA Ltd. subsidiary repurchased an additional $28.5 million of its 7.5% convertible bonds due 2022 for a total consideration of $27.3 million plus accrued interest, according to a company news release.

The company repurchased $15 million of the bonds on Dec. 8.

Following cancellation of the notes, which were acquired from Stifel Nicolaus Europe Ltd., there will be $108,507,000 principal amount of the $230 million issue remaining outstanding.

The debt repayment saves $2.8 million of interest charges.

Hurricane Energy is a Godalming, U.K.-based oil and gas company.

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