Geo Coal International Pte. Ltd. is inviting the holders of the Notes to approve certain proposed amendments to its Indenture governing its 8.0% Senior Notes due 2022 dated 4 October 2017. Concurrently, GCI is also providing Holders the option to exit their holdings, if desired, through an any-and-all fixed price cash tender of the outstanding US$154,017,000 in aggregate principal amount. Through the proposed consent solicitation, the Group would like to seek the consent of Holders to provide the Group additional flexibility in light of the current challenging market conditions, and in doing so, be in a better position to address its obligation to Holders come the final maturity date in 2022. The Group is aware that given the current challenging market conditions, some of the remaining Holders may also desire the provision of liquidity to exit their holdings, and as such, the Group believes the tender offer provides an opportunity for Holders to gain liquidity that might not otherwise be available to them...
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Source: ShareInvestor Express