Gulf keystone again extended the early-bird deadline of a consent solicitation on its US$250m 13% guaranteed notes due 2017, to April 2 from April 1. The consent solicitation closed to investors on the same day as the new early-bird deadline. This is the second time the firm has extended the cut off date. The first time saw the goal posts shift from March 23 to April 1. As with the previous deadline extension, other terms and conditions remained unchanged. The issuer is looking to remove a book equity ratio put option that will force it to buy back the bonds at 101 if the ratio is under 0.4 for 60 consecutive days.
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