5th Jul 2016 10:10
LONDON (Alliance News) - IGas Energy PLC on Wednesday noted an announcement by Pareto Securities AS, on behalf of an undisclosed client regarding the acceptance of an offer to holders of IGas's USD165 million senior secured bonds.
IGas also noted the posting of an acquisition of senior secured bonds at a price of 75 cents per bond on the Oslo Stock Exchange, and said it continues active discussions with its leading bondholders.
The Pareto statement on Monday said that Pareto, on behalf of a client, was announcing that the offer to the holders of Igas Energy's USD165 million senior secured bonds to tender their bonds for sale to the client has been accepted. The client has decided to accept all tenders to and including 75% of par which will be the purchase price at which the bonds are to be acquired.
Cash settlement for the bonds, including accrued interest, is expected to occur on July 12, Parento said, and noted that bonds tendered above 75% of par in the tender offer are now free to trade.
Shares in IGas were flat at 14.75 pence on Tuesday.
By Hannah Boland; [email protected]; @Hannaheboland
Copyright 2016 Alliance News Limited. All Rights Reserved.
Related Shares:
IGAS.L