Singapore’s Geo Energy will redeem all 8% notes due 2022 at 102

Chicago, Sept. 13 – Geo Coal International Pte. Ltd., subsidiary of Geo Energy Resources Ltd., will redeem all $300 million of its 8% senior notes due 2022 on Oct. 10, according to a press release.

The notes will be redeemed at 102, plus interest, to the redemption date.

The group states that the redemption provides noteholders with liquidity that might otherwise be unavailable to them under the current market conditions.

Funding for the redemption will come from internal cash. After the redemption, the company will have little debt and a cash balance of over $60 million, according to the release.

The notes will be canceled and delisted entirely after the redemption.

Geo Energy is a Singapore-based investment holding company that operates as a coal producer and mine contractor.

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