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Share Name Share Symbol Market Type Share ISIN Share Description
Hurricane Energy Plc LSE:HUR London Ordinary Share GB00B580MF54 ORD 0.1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.056 -1.28% 4.325 4.25 4.40 4.556 4.156 4.156 8,027,416 16:35:17
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 180.1 -571.1 -31.4 - 86

Hurricane Energy to Repurchase $78.0 Million of Bonds Due in 2022

10/09/2021 7:59am

Dow Jones News


Hurricane Energy (LSE:HUR)
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By Jaime Llinares Taboada

 

Hurricane Energy PLC said Friday that it has agreed to buy back $78.0 million of its outstanding bonds maturing in 2022.

The oil-and-gas company, which had offered to purchase $230.0 million of convertible bonds, said the purchase price will be 78% of the principal amount.

Chief Executive Antony Maris said Hurricane was able to buy back more than 33% of its outstanding bonds, reducing the par value of bonds held by third parties to $152 million and utilizing $62 million of net free cash.

"The effect of this will save the company approximately $22 million of future obligations to bondholders in capital and interest. This is a positive development for the company in managing its outstanding debt," Mr. Maris said.

 

Write to Jaime Llinares Taboada at jaime.llinares@wsj.com; @JaimeLlinaresT

 

(END) Dow Jones Newswires

September 10, 2021 02:44 ET (06:44 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.

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