Interoil Exploration seeks 2026 bondholder approval for PIK coupon

By Marisa Wong

Los Angeles, Jan. 17 – Interoil Exploration and Production ASA has requested Nordic Trustee AS to summon for a bondholders’ written resolution for the company’s 7½% senior secured callable bonds, issue 2015/2016 (ISIN: NO0010729908), according to a Wednesday press release.

The purpose of the written resolution is to approve a proposal to amend the bond terms regarding the settlement of the interest payment on the bonds due on Jan. 31.

The company wishes to settle the full January interest payment in kind by issuing and delivering additional bonds with terms and conditions substantially equal to those of the outstanding bonds and the same interest rate as the outstanding bonds at a rate of 8.5%.

The proposed resolution will be passed if a simple majority of the voting bonds vote in favor of the proposed resolution.

The voting period will expire at 11 a.m. ET on Jan. 31, which is 10 business days after the date of the summons.

Further questions may be directed to the company at ir@interoil.no.

Interoil is an Oslo-based exploration and production company with assets in Colombia and Argentina.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.