New York - based private equity firm i - Squared is in line for an $ 80 m dividend once Northern Irish energy company Viridian restructures its debt . The Belfast - based group plans to redeem € 540 ##m ( $ 645 m ) of existing bonds and issue the equivalent of € 600 m of cheaper notes in euro and sterling , with the underlying debt carrying an interest rate of 7.5 % . In September , the company became able to exercise an option for early redemption of the debt , which was not due to mature until 2020 . I - invest set up Viridian 's parent company , Viridian plc , earlier this year , which would receive the dividend payment .
New York-based private equity firm I-Squared is in line for an $80m dividend once Northern Irish energy company Viridian restructures its debt. The Belfast-based group plans to redeem €540m ($645m) of existing bonds and issue the equivalent of €600m of cheaper notes in euro and sterling, with the existing debt carrying an interest rate of 7.5%. In September, the company became able to exercise an option for early redemption of the debt, which was not due to mature until 2020. I-Squared set up Viridian's parent company, Viridian Topco, earlier this year, which will receive the dividend payment.