Afren: Another bond default in prospect
Issue 302
- 12 Jun 2015
| 1 minute read
Already in default on $12.8m of interest on its 2019 bonds, Afren said on 9 June it had decided to use a 30-day grace period for $11.9m of interest on its 2020 bonds. The interest was due on 9 June, and Afren warned that it did not anticipate paying the interest at the end of the 30 days. Afren said it had received assurances from a committee of creditors that they had no plans to take enforcement action on the bonds.
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