Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers O > Headlines for Oro Negro Impetus Pte. Ltd. > News item |
Oro Negro Impetus asks bondholders to extend liquidity proposal waiver
By Caroline Salls
Pittsburgh, April 1 – Oro Negro Impetus Pte. Ltd. is asking holders of its 11% first-priority senior secured bond issue 2014/2015 to approve an extension of a waiver date included in its bondholder liquidity proposal to April 22 from April 8, according to a notice from bond trustee Nordic Trustee ASA.
The trustee said Oro Negro Impetus, its ultimate parent Integradora de Servicios Petroleos Oro Negro, SAPI de CV and the ultimate parent’s subsidiaries have been in talks with an informal committee of 2015 bondholders and an informal committee of holders of Oro Negro Drilling Pte. Ltd.’s $725 million of 7½% senior secured bond issue 2014/2019.
Oro Negro Impetus, the ultimate parent and the 2015 bondholders are negotiating definitive documentation, and Oro Negro Impetus requested access to funds being held in a liquidity account. The liquidity proposal was approved by bondholders on March 29, but has not yet taken effect, pending satisfaction of specified conditions.
A bondholders’ meeting on approval of the waiver extension is scheduled for April 8.
The oil and gas services company is based in Alvaro Obregon, Mexico.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.