Brief: Interoil Considers Debt To Equity Conversion

Interoil Exploration and Production ASA

11/12/2019 11:50

Dec 11 (Reuters) - Interoil Exploration and Production ASA
 IOX.OL :
    * INTEROIL SEEKS TO STRENGTHEN BALANCE SHEET THROUGH DEBT TO
EQUITY CONVERSION
    * TO CONSIDER CONVERSION OF 35 PER CENT OF OUTSTANDING
PRINCIPAL
AMOUNT TO EQUITY AND EXTENSION OF MATURITY DATE BY SIX YEARS TO
2026 FOR REMAINING BONDS
    * AFTER CONVERSION, INTEROIL'S CONSOLIDATED GROUP EQUITY
WILL
CHANGE FROM USD NEGATIVE 6.1 MILLION (AS PER 30 SEPTEMBER 2019)
TO APPROXIMATELY USD 6 MILLION POSITIVE
    * ANNUAL INTEREST COSTS WILL BE REDUCED BY APPROXIMATELY USD
0.4
MILLION PER ANNUM

Source text for Eikon:  ID:nGNEXcgJR 
Further company coverage:  IOX.OL 

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