BRIEF-Alterra Power agrees to first stage refinancing of $72 mln Icelandic bond

Fri Sep 30, 2016 10:03am EDT
 
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Sept 30 (Reuters) - Alterra Power Corp

* Reached agreement to refinance a portion of approximately $72 million bond held by Reykjavik Energy

* Full refinancing to be completed by mid-October 2016

* Alterra power agrees to first stage refinancing of $72 million Icelandic bond

* Alterra expects second stage of refinancing to be agreed and executed next week

* Under agreement, or will continue to hold 50% of outstanding principal

* Extended bond is non-recourse to co, with security consisting solely of approximately 17% of outstanding shares of co's Icelandic subsidiary, HS Orka Source text for Eikon: Further company coverage: