Transmeridian receives consents to allow sale of $40 million more notes

New York, May 23 - Transmeridian Exploration Inc. said it received the necessary consents from holders of its $250 million of 12% senior secured notes due 2010 to allow the issuance of $40 million of additional notes.

To make the change, the Houston-based energy company needed approval from holders of a majority of the notes.

The consents also allow Transmeridian to pay accrued dividends on its series A cumulative convertible preferred stock up to $1 million.

The solicitation began on May 9 and eneded at 5 p.m. ET on May 18.

Transmeridian is a Houston-based energy company.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.