13th Jul 2007 11:10
Emerald Energy PLC13 July 2007 13 July 2007 Emerald Energy Plc ("Emerald" or the "Company") ISSUE OF CONVERTIBLE BONDS Emerald Energy Plc ("Emerald" or the "Company") is pleased to provide thefollowing update: Further to the announcement made on 4 July 2007, Credit Suisse Securities(Europe) Limited ("Credit Suisse") has subscribed for Series A and Series Bsenior unsecured convertible bonds for a total consideration of US$30 million. Series A bonds, due January 2012, issued at an aggregate principal amount ofUS$15 million, pay a coupon of 5.875 per cent and are convertible into ordinaryshares of the Company at 290 pence per share. Series B bonds, due January 2013, issued at an aggregate principal amount ofUS$15 million, pay a coupon of 4.875 per cent and are convertible into ordinaryshares of the Company at 270 pence per share. The bonds were issued and are redeemable at par value. The bonds are redeemableat the Company's option, subject to certain conditions, from July 2010. Angus MacAskill, the Company's Chief Executive, commented: "We are very pleasedto have completed this financing which provides Emerald with the financialresources to actively pursue its projects." Enquiries: Helen Manning 020 7925 2440 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Emerald Energy