Business
Maturity date of Senior Notes due 2022
Maturity date of Senior Notes due 2022.
About this update from Nostrum Oil & Gas Plc
[{"type":"text","content":"\n \n \n \n NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION\n \n \n \n \n THIS ANNOUNCEMENT IS AN ADVERTISEMENT AND DOES NOT CONSTITUTE A PROSPECTUS. NOTHING IN THIS ANNOUNCEMENT SHALL CONSTITUTE OR FORM PART OF, AND SHOULD NOT BE CONSTRUED AS, AN OFFER TO SELL OR ISSUE OR THE SOLICITATION OF AN OFFER TO BUY OR SUBSCRIBE FOR ANY SECURITIES REFERRED TO HEREIN NOR SHOULD IT FORM THE BASIS OF, OR BE RELIED ON IN CONNECTION WITH, ANY CONTRACT OR COMMITMENT WHATSOEVER.\n \n \n \n \n \n \n \n \n FOR IMMEDIATE RELEASE\n \n \n \n \n \n \n \n \n London, 25 July 2022\n \n \n \n \n \n \n \n \n \n Maturity date of US$725 million 8.0% senior notes due 2022\n \n \n \n Nostrum Oil & Gas PLC (LSE: NOG) (\"Nostrum\", or \"the Company\" and together with its subsidiaries, the \"Group\") an independent oil and gas company engaging in the production, development and exploration of oil and gas in the pre-Caspian Basin, notes that the maturity date of its US$725 million 8.0% senior notes due 2022 (the \"2022 Notes\") is today, 25 July 2022.\n \n \n The 2022 Notes, along with the\n US$400 million 7.0% Senior Notes due February 2025 (together with the 2022 Notes, the \"Existing Notes\"), will each be restructured in accordance with\n the previously announced proposed restructuring (the \"Restructuring\").\n \n \n The Company will implement the Restructuring as soon as practicable following receipt of all necessary\n authorisations\n and\n licences\n required to hold the scheme meeting in connection with the Restructuring. Due to the ongoing Restructuring, which includes the previously announced lock-up agreement and forbearance agreement entered into by certain holders of the Existing Notes, the Company does not intend to take any additional further action following the maturity of the 2022 Notes.\n \n \n The Company appreciates the support shown by its stakeholders and will provide further updates on the status of the Restructuring in due course.\n \n \n LEI: 2138007VWEP4MM3J8B29\n \n \n \n \n \n \n Further information\n \n \n \n For further information please visit\n \n \n www.nog.co.uk\n \n \n \n \n \n \n \n \n Further enquiries\n \n \n \n Nostrum Oil & Gas PLC...