In connection with the ongoing refinancing Interoil is calling for a bondholder meeting in order to obtain an extension of the NOK 310 million bond loan's maturity and certain other necessary waivers and changes. The proposal is structured and based on feedback from investors and bondholders in connection with the ongoing refinancing and implementation of the proposal will be conditional on successfully completing the proposed equity issue which needs approval in the upcoming EGM on 5 March 2013.
In summary the proposal entails:
- Extension of the bond's maturity to March 2016
- Introduction of a new call structure due to the extended duration
- Cancellation of the amortization in March 2013
- Certain other changes required in order to align the bond loan agreement to the current situation in the company and enable implementation of the cost cutting program
For more information please contact:
Thomas J. Fjell Erik Sandøy
Mob: +47 958 15 300 Mob: +47 488 94 426
InterOil Exploration & Production ASA is a Norwegian based exploration and production company - listed on the Oslo Stock Exchange - with focus on Latin-America. The company is operator of several production and exploration assets in Peru, Colombia and Ghana. InterOil currently employs approximately 280 people and is headquartered in Oslo.