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Prospect News home > News index > List of issuers Tenders > Headlines for 2021 > News item
Published on 4/6/2021 in the Prospect News Canadian Bonds Daily, Prospect News Emerging Markets Daily, Prospect News High Yield Daily and Prospect News Liability Management Daily.

ShaMaran retires $4.95 million 12% bonds due 2023

By Wendy Van Sickle

Columbus, Ohio, April 6 – ShaMaran Petroleum Corp. said it retired $4.95 million of its $240 million 12% senior bonds due 2023 (ISIN: NO0010826456), which it purchased at “commercially attractive” rates, according to a news release.

The company said its amortization payment due in December 2021 has been reduced by 33%.

ShaMaran said the debt reduction was enabled by continued sustained production in the Atrush field and the first quarter 2021 increase in oil prices.

Vancouver, B.C.-based ShaMaran is a Kurdistan-focused production, development and exploration company.


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