Riverstone Energy swaps CIOC loan for warrants
Riverstone Energy has offloaded a C$28m loan interest in Canada's CIOC and swapped the proceeds for an investment in CIOC warrants instead.
Equity Investment Instruments
11,533.52
17:14 18/04/24
0.42%
48.68
FTSE 250
19,450.67
17:14 18/04/24
n/a
n/a
FTSE 350
4,334.00
17:14 18/04/24
n/a
n/a
FTSE All-Share
4,290.02
16:54 18/04/24
n/a
n/a
Riverstone Energy Limited
916.00p
16:55 18/04/24
-0.22%
-2.00p
The second lien loan, which was made to CIOC by the FTSE 250 company in December 2015 and has a maturity in 2020, confers no equity rights in respect of CIOC.
The sale was made to an affiliate of Kendall Family Investments, a substantial shareholder in Riverstone.