Alliance Oil extends early consent deadline on Eurobonds to March 3
MOSCOW. March 2 (Interfax) - Alliance Oil, which is part of Independent Oil and Gas Company (NNK) and is currently in talks with Eurobond holders on restructuring $350 million, has changed the early consent deadline to March 3, the company said in a statement posted on the London Stock Exchange's (LSE) website.
Having previously asked Eurobond holders to move maturity to 2017-2019 from March 2015, the company promised investors to buy back a portion of debt.
Bondholders had until February 27 to accept the offer (the early deadline) in order to receive redemption payments on 20% of the bonds. This has now been moved to March 3. Alliance was willing to by 5% of bonds from investors who accepted the offer before March 13.
VTB Capital is organizing the deal.