InterOil bondholder meeting makes quorum, approves proposed amendment

By Tali David

Minneapolis, Dec. 6 - InterOil Exploration & Production ASA said there were sufficient bondholders at a Dec. 6 meeting in Oslo to form a quorum, and the proposed amendments for the company's 15% senior callable bonds due 2014 were approved, obtaining 100% of the votes, according to a notice from trustee Norsk Tillitsmann ASA.

The Dec. 6 meeting was scheduled after bondholders failed to form a quorum at the meeting held Nov. 18.

At the Nov. 18 meeting, there were holders representing 45.48% of the bonds, which fell short of the 50% needed to form a quorum.

As previously announced, the company proposed an amended restructuring under the bonds after regulatory issues prevented completion of the restructuring that was approved in July.

In order for the measure to pass, holders of at least half of the bonds represented at the meeting needed to vote in favor of the measure.

InterOil is an Oslo-based exploration and production company.

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