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Transmeridian plans exchange offer for 12% notes as part of United Energy investment
By Susanna Moon
Chicago, June 11 - Transmeridian Exploration Inc said it plans to conduct an exchange offer for its 12% senior notes as part of an investment of $215 million by United Energy Group Ltd.
Holders will be offered new notes and cash.
The company also plans to solicit consents to amend the terms of the notes.
The exchange offer will have a minimum 90% acceptance threshold.
Akin Gump Strauss Hauer & Feld LLP is legal counsel.
Transmeridian is a Houston independent energy company.
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