Iona Energy Inc.

TSX VENTURE : INA


Iona Energy Inc.

March 21, 2014 04:05 ET

Iona Energy Announces Its Senior Secured Bond Has Commenced Trading on the Nordic ABM

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.

Bond Specifics
Issue name: Iona Energy Company (UK) 13/18 9.50% USD
Ticker: IEC01 PRO
Instrument ID: 1300924
ISIN: NO0010689763
Segment: OABM
Country: UK
Trading currency: USD
Current outstanding principal amount: 275 mm, limited issue
Interest accrual date: 27.09.2013
Maturity date: 27.09.2018
Coupon rate: 9.50% p.a.
Sector list: Foreign bonds (AFB)
Managers: Pareto Securities
Central Securities Depository: VPS

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.

Contact Information

  • Neill A. Carson, Chief Executive Officer
    Telephone: +44 1224 228400

    Graham A. Heath, Interim Chief Financial Officer
    Telephone: +1 403 605 6726

    David Ricciardi, Manager, Investor Relations
    Telephone: +1 403 978 4894