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Tellurian extinguishes $37.9 million 10% notes via stock issuance
By Wendy Van Sickle
Columbus, Ohio, Jan. 2 – Tellurian Inc. extinguished $37.9 million principal amount of its 10% senior secured notes due 2025 issued to an institutional investor on Tuesday in connection with its issuance to the investor of 47,865,061 shares of common stock of the company, according to an 8-K filing with the Securities and Exchange Commission.
Tellurian also amended some terms of the indenture governing the $83,334,000 principal amount of 6% senior secured convertible notes due 2025 issued to the investor.
The company was deemed to have satisfied its obligations to make the cash interest payments due in respect of the notes on Jan. 1.
Tellurian is a Houston-based energy company with a portfolio of natural gas production, LNG marketing and trading, and infrastructure.
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