Metro Exploration 2016 bondholders to receive $530,621 payment Aug. 9

By Caroline Salls

Pittsburgh, Aug. 3 – Metro Exploration Holding Corp. will make a $530,621 payment to holders of its senior secured callable bond issue 2014/2016 on Aug. 9, according to a notice from bond trustee Nordic Trustee ASA.

The record date for the payment will be Aug. 5.

Holders of principal claims will receive a total of $487,522, equal to $2,900 per million face value held in the form of a $447,371 installment and 1% premium and accrued interest.

Holders of August 2015 coupon claims will receive a total of $14,737, equal to $87.60 per million face value; holders of November 2015 coupon claims will receive a total of $14,467, equal to $86 per million face value; and holders of February 2016 coupon claims will receive a total of $13,894, equivalent to $82.60 per million face value held.

The trustee said the portion of the principal and coupon claims not satisfied by the payment will remain outstanding.

Metro is a drillship company based in Liberia.

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