IGas Energy Plc (LON:IGAS) notified investors that it has made a mandatory offer to bondholders to buy back some bonds.
The offer, to redeem US$2.3mln of bonds, will be open until March 1.
It comes as a result of the group’s bond terms which, among other conditions, requires the company to invest some US$15mln a year into its conventional oil operations whereas US$12.7mln was invested during 2016.