Afren extends consent bid to allow interim funding by one more day

By Susanna Moon

Chicago, April 10 – Afren plc said it extended the consent solicitation for its $450 million of 11½% senior secured notes due 2016, its $300 million of 10¼% senior secured notes due 2019 and its $360 million of 6 5/8% senior secured notes due 2020.

The solicitation will now end at 5 p.m. ET on April 10, extended from 5 p.m. ET on April 9. The solicitation began April 7.

All other terms remain unchanged, according to a company notice.

As previously announced, the company is seeking consents from the holders of the 11½% and 10¼% notes to increase the priority debt baskets in the note indenture in connection with the interim funding announced on March 13.

Holders of all three series of notes are being asked to approve certain documents and actions that are required to be entered into or taken by the trustee and the primary collateral agent in connection with the interim funding.

Afren will not pay a consent fee.

Afren is an oil and gas exploration and production company based in London.

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