Riverstone Energy swaps CIOC loan for warrants
Updated : 07:31
Riverstone Energy has offloaded a C$28m loan interest in Canada's CIOC and swapped the proceeds for an investment in CIOC warrants instead.
The second lien loan, which was made to CIOC by the FTSE 250 company in December 2015 and has a maturity in 2020, confers no equity rights in respect of CIOC.
The sale was made to an affiliate of Kendall Family Investments, a substantial shareholder in Riverstone.