Shares of natural gas provider Tellurian (NYSE:TELL) are sliding in the trade today as amid a volatile junk bond market the company has withdrawn its $1 billion offering of 11.25% senior secured notes and warrants.
The development now casts doubts over the company’s natural gas export project in Louisiana. The bond sale was the first step toward an almost $13 billion financing, according to Bloomberg.
Tellurian shares are now down almost 32% over the past month.
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