Houston upstream co. cuts nearly $340M in debt since December

Houston-based Cobalt International Energy Inc. (NYSE: CIE) has reduced its debt load by $339.2 million in a series of debt exchanged over the past six months.

In the latest of these financial maneuvers earlier this month, Cobalt issued $32.142 million in 7.750 percent second-lien senior secured notes due 2023 to some of its debt holders in exchange for $60.932 million in convertible senior notes due 2024 at 3.125% annual interest, according to a filing with the Securities and Exchange Commission.

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Houston upstream co. cuts nearly $340M in debt since December syndicated post

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