Tellurian Announces Agreement for Debt Amendment to Support Upstream Asset Sale
Tellurian Inc. (TELL)
Last tellurian inc. earnings: 2/24 07:00 am
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Source: Business Wire
HOUSTON--(BUSINESS WIRE)--Tellurian Inc. (Tellurian) (NYSE American: TELL) announced today an agreement for an amendment to the terms of certain debt instruments. The amendment is expected to enhance near-term liquidity and provide the company with flexibility to successfully complete the sale of its upstream assets. Among other items, the amendment provisions include a reduction in Tellurian’s minimum cash balance requirement and the ability for the company to make its upcoming interest payments in-kind.Chief Executive Officer Octávio Simões said, “This amendment to our debt agreement is pivotal towards establishing a sustainable capital structure and accelerating our strategic priority, Driftwood LNG. It also provides us the time and flexibility to complete the sale of our upstream assets in a manner that maximizes value for our shareholders while we maintain our focus on the intensive negotiations associated with the commercialization of Driftwood LNG.”About Tellurian Inc.Tellu
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- TELL's page on the SEC website