Holders of bonds of NOSTRUM OIL & GAS PLC support forbearance agreement

19.11.20 10:17
/KASE, November 19, 2020/ – NOSTRUM OIL & GAS PLC (United Kingdom), whose shares are officially listed on Kazakhstan Stock Exchange (KASE), has provided KASE with the following press release of November 18, 2020: quote Nostrum Oil & Gas PLC (LSE: NOG) ("Nostrum", or "the Company"), an independent oil and gas company engaging in the production, development and exploration of oil and gas in the pre-Caspian Basin, today announces that holders of 89.9% or $652,011,000 of Nostrum's subsidiary Nostrum Oil & Gas Finance B.V.'s 8.0% Senior Notes due 2022 and of 88.7% or $355,115,000 of its 7.0% Senior Notes due 2025 (together, the "Notes") have executed or acceded to the forbearance agreement dated 23 October 2020 with the Company and certain of its subsidiaries (the "Forbearance Agreement"). Pursuant to the Forbearance Agreement, acceding holders, together with members of an informal ad hoc committee of holders of the Notes (the "AHG") have agreed to forbear from the exercise of certain rights and remedies that they have under the indentures governing the Notes. The agreed forbearances include agreeing not to accelerate the Notes' obligations as a result of the missed interest payments (or the next missed interest periods if they occur prior to the expiry of the Forbearance Agreement). unquote The full press release is available on: - https://kase.kz/files/emitters/GB_NTRM/gb_ntrm_reliz_181120_1.pdf – in Russian; - https://kase.kz/files/emitters/GB_NTRM/gb_ntrm_reliz_181120_en.pdf – in English. [2020-11-19]