Business
Proposed Transaction
Nostrum Oil & Gas PLC has reached an in-principle agreement with an ad hoc group representing over 50% of its US$-denominated senior secured notes due 2026 and senior unsecured notes due 2026 to extend their maturity dates to December 31, 2030. The proposed transaction includes increasing the cash pay interest rate for secured notes from 5.00% to 5.50% and for unsecured notes from 1.00% to 2.00%, effective July 1, 2026, with an option for interest capitalization. Holders of secured notes are invited to tender for repurchase up to $30 million, with unsecured noteholders eligible for remaining funds, at expected price ranges of 40-60 cents and 16-22 cents respectively. The company is working to obtain necessary regulatory licenses, and pending their receipt, does not expect to make interest payments on these notes. Disclaimer*
About this update from Nostrum Oil & Gas Plc
[{"type":"text","content":"\n\nNOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO OR TO ANY PERSON LOCATED OR RESIDENT IN ANY JURISDICTION WHERE IT IS UNLAWFUL TO RELEASE, PUBLISH OR DISTRIBUTE THIS ANNOUNCEMENT.\nINSIDE INFORMATION\n30 March 2026\n\n \nNostrum Oil & Gas PLC\n(a company incorporated under the laws of England & Wales)\nNostrum Oil & Gas PLC (the \"Parent\") announces in principle agreement with Ad Hoc Group of holders of US$-denominated senior secured notes due 2026 (ISIN: USN64884AF16; US66978CAF95) (the \"SSNs\") and US$-denominated senior unsecured notes due 2026 (ISIN: USN64884AE41; US66978CAD48) (the \"SUNs\") issued by Nostrum Oil & Gas Finance B.V. (the \"Issuer\")\nThe Parent is pleased to announce that the Parent and the Issuer have reached an in principle agreement with an ad hoc group of beneficial owners of the SSNs and the SUNs representing more than 50% of the SSNs and more than 50% of the SUNs (the \"Ad Hoc Group\") regarding the key commercial terms for a proposed extension of the maturity date of the SSNs and the SUNs to 31 December 2030 (as more specifically described the below, the \"Proposed Transaction\").\nMore specifically, the Proposed Transaction contemplates the following:\nSSNs\n\n· an extension of the maturity date of the SSNs from 30 June 2026 to 31 December 2030;\n· an increase in the cash pay interest rate of the SSNs from 5.00% per annum to 5.50% per annum, effective from 1 July 2026;\n· an option for the Issuer to elect to capitalise payments of interest as determined by the board based on working capital needs, provided that such election cannot be made in respect of two consecutive interest periods;\n\n\n· an invitation to holders of the SSNs to tender their SSNs for repurchase in the form of a reverse Dutch auction, subject to a consideration cap of up to US$30 million (the \"Available Consideration\"), with an expected acceptable price range of 40-60c (excluding, for the avoidance of doubt, accrued and unpaid interest) (the \"SSN Offer\");\n\nSUNs\n\n· an extension of the maturity date of the SUNs from 30 June 2026 to 31 December 2030;\n·&nbs...