By John Lee.
Genel Energy has decided to repurchase a nominal amount of USD 252.8 million of Bonds in connection with its recent Buy-Back Offer.
The Bonds will be repurchased at the price offered by each bondholder up to and including 89.90% of par value. The Bonds are being repurchased at a weighted average price of 85.56% of par value.
Settlement of the repurchases pursuant to the Buy-Back Offer will occur on 11 April 2017. The Company will cancel all Bonds repurchased, including current treasury bonds with nominal value of USD 55.4 million.
(Source: Genel Energy)