Iona Energy trustee to distribute $2.59 million to 9½% bondholders

By Caroline Salls

Pittsburgh, Nov. 14 – The trustee for Iona Energy Co. (UK) Ltd.’s 9½% senior secured callable bond issue 2013/2018 will make a $2.59 million extraordinary distribution to bondholders, according to a notice from bond trustee Nordic Trustee AS.

The distribution settlement date will be Nov. 20. The distribution will be made to bondholders of record as of the end of business on Nov. 16.

The trustee said the distribution will be made from Huntington claim proceeds and will represent 483.55505% of the face value of the respective bondholders’ holdings.

Iona Energy is a Calgary, Alta.-based oil and gas company with assets in the United Kingdom’s North Sea.

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