By Devika Patel
Knoxville, Tenn., June 27 – Echo Energy plc said it settled a €20 million private placement of 8% loan notes due May 15, 2022 with Greenberry plc. The deal was announced on May 15.
The notes may be redeemed in whole or in part at par plus interest.
The deal includes warrants, which may be exercised at 150% of the mid-market closing price of the stock on the day immediately before the company’s May 22 general meeting.
Echo Energy is a London-based oil and natural gas holding company focused on south and central America.
| Issuer: | Echo Energy plc
|
| Issue: | Loan notes
|
| Amount: | €20 million
|
| Maturity: | May 15, 2022
|
| Coupon: | 8%
|
| Call: | Any time at par
|
| Warrants: | Yes
|
| Warrant strike price: | 150% of mid-market close immediately before May 22 general meeting
|
| Investor: | Greenberry plc
|
| Announcement date: | May 15
|
| Distribution: | Private placement
|
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