The latest announcement is out from ShaMaran Petroleum ( (TSE:SNM) ).
ShaMaran Petroleum Corp. has issued a summons for a written resolution to amend its outstanding 12% senior unsecured bond due in July 2027. The proposed amendments include converting the mandatory quarterly cash sweep to voluntary and extending the bond’s maturity by two years to July 2029. The company has received strong support from a majority of bondholders for this proposal, which aims to provide greater flexibility for capital returns to shareholders. This move reflects ShaMaran’s improved credit profile following recent mergers and acquisitions and significant deleveraging.
More about ShaMaran Petroleum
ShaMaran Petroleum Corp. is a Canadian independent oil and gas company focused on the Kurdistan region of Iraq. It holds a 50% working interest in the Atrush Block and an 18% working interest in the Sarsang Block. The company is part of the Lundin Group of Companies and is listed on the TSX Venture Exchange in Toronto and Nasdaq First North Growth Market in Stockholm.
YTD Price Performance: 100.0%
Average Trading Volume: 411,505
Technical Sentiment Signal: Sell
Current Market Cap: C$683M
Find detailed analytics on SNM stock on TipRanks’ Stock Analysis page.