Tellurian (TELL) has released an update.
Tellurian Inc. has amended agreements with an institutional investor concerning its senior and convertible notes due in 2025. The deal includes a $4.0 million cash payment by Tellurian, amendments to the notes’ terms, stock issuance in lieu of interest payments, and a non-recourse pledge of equity interests in Driftwood LNG Holdings by Tellurian Investments. The amendments modify the interest payment schedule, lower the minimum liquidity requirement, and set new terms for the convertibility of the notes and the use of the company’s upstream property cash flow, aiming to strengthen Tellurian’s financial position and future prospects.
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