March 21, 2014 04:05 ET
CALGARY, ALBERTA--(Marketwired - March 21, 2014) -
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR DISSEMINATION IN UNITED STATES
Iona Energy Inc. ("Iona" or the "Company") (TSX VENTURE:INA) is pleased to announce that its USD 275 million senior secured bonds (the "Bonds") issued by its UK subsidiary Iona Energy Company (UK) plc (formerly Iona Energy Company (UK) Limited) have commenced trading on the Nordic ABM.
The Bonds mature on September 30, 2018 after a five year term. The Bonds carry an annual coupon rate of 9.5% payable semi-annually, were issued at 97.5% of par and are callable in whole or in part at the option of the Issuer at any time. Commencing 30 months after the Settlement Date, the Bonds will amortize 15% of the issue amount every six months with a 25% final payment at maturity. The amortizations will be performed at the prevailing call option prices of 105%, 104%, 104%, 103% and 103% of par value with the residual amount payable at 102% of par value.
Additional information relating to the Company is available on SEDAR at www.sedar.com.
About Iona Energy:
Iona is an oil and gas exploration, development and production company focused on oil and gas development and exploration in the United Kingdom's North Sea.
Neither the TSX Venture Exchange Inc. nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Neill A. Carson, Chief Executive OfficerTelephone: +44 1224 228400Graham A. Heath, Interim Chief Financial OfficerTelephone: +1 403 605 6726David Ricciardi, Manager, Investor RelationsTelephone: +1 403 978 4894
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