Genel Shares Rise on Debt Reduction Plan

By John Lee.

Shares in Genel Energy closed the day up 5.9 percent on Wednesday, after the company's bondholders approved its proposal to reduce the outstanding bond debt from $421.8 million to $300 million.

It will also extend maturity through amending and restating terms to a new 5 year tenor.

DNB Markets and Pareto Securities acted as managers for the refinancing.

(Source: Genel Energy)

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