Afren eyes new bond as part of ALM
African oil exploration and production company Afren is planning a new bond deal to accompany a liability management exercise. The borrower is tendering 2016 and 2019 dollar deals, and will announce a new bond in the same currency on Monday.
The company is offering to buy back any and all of its $450m 11.5% 2016 senior notes, and up to $100m of its $300m 10.25% 2019 bonds. The tender offer began on November 12 and ends on December 10.
Afren will pay $1,135 for every $1,000 of
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