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Nostrum Oil & Gas - Amsterdam-headquartered oil and gas company with operations in Kazakhstan - Says it has received the required consent from the Kazakhstan Ministry of Energy to complete its proposed restructuring of the company's $725 million 8% senior notes due July 2022 and its $400 million 7% senior notes due February 2025, which were both issued by Nostrum Oil & Finance BV.
Nostrum says a condition to the restructuring was the receipt of consent of the Kazakhstan Ministry of Energy with respect to firstly, the issue of new shares and warrants (in partial repayment of the existing notes), and secondly, the waiver of the State of Kazakhstan's priority right to acquire such new shares and warrants.
Current stock price: 6.91 pence, down 3.8% on Friday
12-month change: down 44%
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