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Brightoil redeems $9.6 million in outstanding bonds

14 Feb 2018

Hong Kong-listed Brightoil Petroleum (Holdings) Limited has redeemed all outstanding unconverted Listed Convertible Bonds with a principal amount of $9.6 million in full, together with accrued and unpaid interest on 12 February 2018.

The development is part of an earlier voluntary announcement on 15 November 2017 when Brightoil described the company entering a "relevant event" to redeem the bonds.

"Following the company’s request for suspension of trading in its shares and debt securities on the Stock Exchange from 9:00 a.m. on 3 October 2017, a relevant event occurs as at the date hereof," it said in the voluntary announcement.

Brightoil issued Listed Convertible Bonds valuing $12 million and Unlisted Convertible Bonds valuing $150 million on the Hong Kong Stock Exchange during 19 November 2015 and 15 December 2015 respectively.

On 15 November 2017, the outstanding amount of the Listed Convertible Bonds was $9.6 million and Unlisted Convertible Bonds was $147 million.

Related: Brightoil receives trading resumption conditions from HKSE

Published: 14 February, 2018

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