Interoil Proposes Amendments to Bond Terms
Interoil's Request for Bondholder Resolution
Interoil Exploration and Production ASA has initiated a request for a bondholders' written resolution concerning their senior secured callable bonds, identified by ISIN NO 001 0729908. This significant step aims to refine the terms of the bonds in light of recent operational changes.
Proposed Amendments to Bond Terms
The primary goal of this resolution is to gain approval for the amendment of bond terms, particularly in connection with the partial termination of the LLA-47 Contract, apart from the Vikingo well exploitation area, and the comprehensive termination of the Altair Contract. These alterations were made public through a company announcement.
Importance of the Proposed Amendments
The adjustments to the bond terms are essential for the company's strategic positioning, particularly regarding its operational assets in Latin America. By aligning the bond terms with current operational realities, Interoil can better manage its financial commitments while continuing to focus on exploration and production in the region.
Voting Process and Timeline
The proposed resolution will be subject to a voting process, requiring a simple majority of the bondholders. The voting window will remain open for ten business days starting from the issuance of the Summons, closing at 5 pm Oslo time on the specified date. This timeline is crucial for stakeholders to consider their votes and align with company strategies.
Engagement with Bondholders
Interoil encourages all bondholders to participate in the voting process actively. Stakeholder engagement is pivotal in ensuring a majority vote towards the proposed resolution, which will set the stage for necessary adjustments within the company’s financial framework.
Company Overview and Operational Focus
Interoil Exploration and Production ASA, headquartered in Oslo, is a prominent exploration and production entity listed on the Oslo Stock Exchange. The company's operations primarily focus on Latin America, encompassing key assets across Colombia and Argentina. Interoil's strategic direction emphasizes maintaining robust operational efficiency while adapting to market dynamics.
Further Questions and Company Contact
Stakeholders and interested parties seeking additional details are encouraged to reach out via the company's investor relations email at ir@interoil.no. Transparency and communication remain critical as the company navigates these proposed changes.
Frequently Asked Questions
What is the purpose of the written resolution?
The written resolution seeks to amend the bond terms related to the partial termination of specific contracts.
How will the voting process work?
A simple majority of voting bondholders must approve the resolution before the voting period expires.
What is the deadline for voting?
The voting period will end ten business days after the Summons is issued.
Where is Interoil based?
Interoil Exploration and Production ASA is based in Oslo, Norway.
What sectors does Interoil focus on?
Interoil focuses on exploration and production in the Latin American region, particularly Colombia and Argentina.
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