ShaMaran Petroleum Extends Bond Maturity and Initiates Buy-Back

ShaMaran Petroleum (TSE:SNM) has released an update.

ShaMaran Petroleum Corp. has announced that its bondholders have endorsed amendments to extend the maturity of its 12% senior unsecured bonds, originally due in July 2025, to July 2027. Additionally, the company is initiating a buy-back tender offer to repurchase approximately 21% of these bonds, aiming to reduce the outstanding amount by $47 million. The tender offer period is scheduled to run from June 11 to June 21, 2024.

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