Golden Energy begins consent bid for 8½% secured notes due 2026

By Rebecca Melvin

Concord, N.H., Dec. 8 – Golden Energy and Resources Ltd. has begun a consent solicitation to approve certain amendments governing its $285 million outstanding 8½% senior secured notes due 2026 (ISIN: XS2342227597), according to a press release on Wednesday.

The company is seeking to modify the terms of the indenture to permit its Stanmore coal subsidiary to incur additional debt pertaining to the BMC acquisition and permit the company and its subsidiaries to incur additional debt, which may be secured to support the future corporate and operational activities.

A majority of noteholders must give consent for the changes.

Noteholders who give their consents will be paid $3 per $1,000 of notes for which consents have been validly delivered.

The deadline to receive the consent fee is 11 a.m. ET on Dec. 21.

Settlement is expected for Dec. 23.

Mandiri Securities Pte Ltd. (+65 6589 3880) is the consent solicitation agent.

Morrow Sodali Ltd. is the information and tabulation agent (+44 20 4513 6933, +852 2319 4130, gear@investor.morrowsodali.com, https://bonds.morrowsodali.com/gear).

Golden Energy is a Singapore-based coal miner operating in Indonesia.

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