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Petrojack estate to make distribution to 2010 and 2012 bondholders
By Caroline Salls
Pittsburgh, Jan. 9 - Petrojack ASA's bankruptcy estate will make a distribution to holders of senior secured open bond issue 2006/2012 and 11% senior secured callable bond issue 2007/2010, according to a notice from bond trustee Norsk Tillitsmann ASA.
Total payment to holders of the 2010 bonds will be NOK 2.44 million. Of that amount, NOK 2.41 million will go toward principal, for a payment of 1.26741% of the total NOK 190.07 million principal amount, and NOK 28,143 will go toward a NOK 5.5 million coupon due Jan. 19, 2010.
Meanwhile, holders of the 2012 bond will receive NOK 11.64 million, or 71.35228% of the NOK 16.31 million outstanding principal amount.
The payments will be made on Jan. 16 to noteholders of record as of Jan. 14.
The trustee said Petrojack's bankruptcy estate is proceeding, and further payments might be made to the bondholders at a later date.
Petrojack ASA is an Oslo-based oil and natural gas exploration company.
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