Finance & Investing | Debt | Financial Trouble | Capital Markets
LINN Gets Lifeline; 30-Day Grace Period on Interest Payment
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LINN Energy, LLC and LinnCo, LLC announced that LINN and Berry Petroleum Company, LLC made interest payments on April 14, 2016 of approximately $30 million on LINN's 7.75% senior notes due February 2021, $12 million on LINN's 6.50% senior notes due September 2021 and approximately $18 million on Berry's senior notes due September 2022 within the applicable 30-day period provided in the indentures governing the notes, for which payment had been previously deferred from the original due date of March 15, 2016.
Strategic AlternativesAs previously announced, the Company is currently in the process of exploring strategic alternatives to strengthen its balance sheet and maximize the value of the Company and has engaged its financial and legal advisors along with its lenders in discussions on…
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