KS Energy gets holder OK to extend 6% convertibles by three months

By Susanna Moon

Chicago, March 15 – KS Energy Ltd. said holders voted unanimously to amend its S$45 million principal amount of 6% convertible bonds due 2016.

As a result, the bonds were extended to June 21, 2016 from March 21, 2016 and the redemption amount payable at maturity was increased, according to a company announcement.

The company said it sought bondholder approval in writing and the measure was signed by or on behalf of 100% of the outstanding convertibles.

The company said that it entered into a supplemental trust deed with Bank of New York Mellon, Singapore Branch on Tuesday.

KS Energy is a Singapore-based provider of services to the oil and gas industry.

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