ShaMaran Petroleum (TSE:SNM) has released an update.
ShaMaran Petroleum Corp. has proposed amendments to their senior unsecured bond, seeking to extend its maturity by two years to July 2027, and is initiating a $47 million tender offer to repurchase and reduce the bond debt by approximately 21%. The company has received strong support from a majority of bondholders, including a commitment from the Lundin family to extend a subordinated loan. These strategic financial moves aim to accelerate debt repayment and optimize the company’s capital structure while enhancing value for stakeholders.
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