HOUSTON–(BUSINESS WIRE)–Tellurian Inc. (Tellurian) (NASDAQ: TELL) today announced it has made a voluntary principal prepayment of $43 million on its 2018 Term Loan. The debt prepayment was funded using cash on hand and from its upstream subsidiary, Tellurian Production Holdings LLC, resulting in interest savings of approximately $2.4 million in 2021. Tellurian Inc. has also made $13.6 million in other debt repayments year to date to other creditors, for a total debt reduction of $57 million.
After today’s prepayment, Tellurian has approximately $80 million in unrestricted cash and $25 million in borrowings that mature in 2021, of which $17 million will be paid from Tellurian production.
President and CEO Octávio…
