Concerning news from IOG, which has brought the Blythe H2 well onstream but at a lower-than-expected rate. This, alongside the pullback in natural gas prices, leaves IOG’s balance sheet exposed and it is likely to breach the covenants of its €100m bond, which matures in September 2024. An independent financial advisor has been appointed and IOG is in discussion with the bondholders to find a way through.
Sign up to access
Get access to our full offering from over 30 providers
Get access to our full offering from over 30 providers
IOG - Corporate update
- Published:
07 Jun 2023 -
Author:
Jonathan Wright -
Pages:
7
Concerning news from IOG, which has brought the Blythe H2 well onstream but at a lower-than-expected rate. This, alongside the pullback in natural gas prices, leaves IOG’s balance sheet exposed and it is likely to breach the covenants of its €100m bond, which matures in September 2024. An independent financial advisor has been appointed and IOG is in discussion with the bondholders to find a way through.