Interoil Exploration Announces Summons for a Written Resolution
Source: www.gulfoilandgas.com 1/17/2025, Location: Europe
Interoil Exploration and Production ASA (the "Company") has today requested Nordic Trustee AS to summon for a bondholders' written resolution (the "Summons") for the Company's senior secured callable bonds with ISIN NO 001 0729908 (the "Bonds").
The purpose of the written resolution is to approve a proposal to amend the bond terms regarding the settlement of the interest payment on the Bonds falling due on 31 January 2025 (the "January Interest Payment"). The Company wishes to settle the full January Interest Payment in kind by issuing and delivering additional Bonds (the "January PIK Bonds") with terms and conditions substantially equal to those of the outstanding Bonds and the same interest rate as the outstanding Bonds at a rate of eight point fifty per cent (8.50%).