By Rebecca Melvin
New York, April 12 – MIE Holdings Corp. priced $248.39 million of 13¾% notes due 2022, according to a company announcement.
The new notes were priced as part of an exchange for $315,916,000 of its outstanding 7½% senior notes due April 25, 2019.
The company said the purpose of the exchange offer is to refinance the notes and to extend the maturity of its senior debt that was due April 25.
Following the completion of the exchange offer, the company intends to, from time to time, purchase part or all of the new 13¾% notes in the open market using free cash flow.
MIE Holdings is a Hong Kong-based oil and gas exploration and production company.
| Issuer: | MIE Holdings Corp.
|
| Issue: | Notes
|
| Amount: | $248.39 million
|
| Maturity: | 2022
|
| Coupon: | 13¾%
|
| Issue date: | April 12
|
| Listing date: | April 15
|
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