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Malka Oil proposes financial restructuring


Published Feb 16, 2009
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Malka Oil

Malka Oil has identified a financing need of approx MUSD 15 (or approx MSEK 125) to pay off Russian supplier's debt and to finance underlying operations during 2009 (not including interest payments on convertible bond loans).

Due to prevailing market conditions in combination with Malka Oil's current capital structure, the Board of Directors has come to the conclusion that it is not possible to attract new share capital unless the two outstanding convertible bond loans with a total par value of MUSD 80 are restructured.

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