EP Energy Creditors Claim $178 Million in Default Premium (1)

EP Energy Corp. creditors say they’re owed a premium payment on some of the oil and gas company’s bonds after its bankruptcy triggered a default on the debt.

The indenture trustee for $1 billion of 1.125-lien notes due May 2026 says creditors are immediately owed an additional $177.7 million that has accrued since the default, as stipulated in the indenture for the bonds, according to a lawsuit filed in Houston bankruptcy court.

EP Energy’s restructuring plan filed on Jan. 13 seeks to reinstate the notes in the principal amount of $1 billion, and doesn’t include the $177.7 million premium that ...