Golden Energy obtains consents to amend 8½% notes due 2026

By Rebecca Melvin

Concord, N.H., Dec. 22 – Golden Energy and Resources Ltd. announced holders of the majority of its $285 million outstanding 8½% senior secured notes due 2026 (ISIN: XS2342227597) approved amending the notes as proposed by the company in its Dec. 8 consent bid, according to a 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 that may be secured to support future corporate and operational activities.

A consent fee of $3 per $1,000 of notes will be paid on Dec. 23 to noteholders who delivered valid consents.

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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