Genel Bondholders Accept Haircut

By John Lee.

Genel Energy has decided to repurchase a nominal amount of USD 55.4 million of Bonds in connection with the Buy-Back Offer announced last week.

The company will pay 63 percent of par value plus accrued unpaid interest.

Settlement of the repurchases will occur on 30th March 2016.

Shares in the company closed down 1.7 percent on Wednesday following the announcement.

(Sources: Genel Energy, Yahoo!)

(Bonds image via Shutterstock)

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