Hurricane Energy buys back another $28.7 million 7.5% convertibles

By Rebecca Melvin

Concord, N.H., Dec. 15 – Hurricane Energy plc’s Hurricane GLA Ltd. subsidiary repurchased an additional $28.7 million of its 7.5% convertible bonds due 2022 for a total consideration of $27.7 million plus accrued interest, according to a company news release on Wednesday.

The company also repurchased $28.3 million of the bonds on Dec. 10 and $15 million of the bonds on Dec. 8.

The company, which acquired the notes from Stifel Nicolaus Europe Ltd., further reduces the principal amount outstanding to $79,815,000, creating further net savings in debt repayment and interest charges of $2.6 million.

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

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