Not for the first time in recent months, liquefied natural gas (LNG) company (NYSEMKT: TELL) had a rough trading session on the stock market Thursday. It announced an amendment for a number of its debt facilities, which only served to remind investors of what a difficult state its finances are in. As a result, its share price took a more than 14% hit on a day when the S 500 index rose in excess of 2%.

Tellurian disclosed in both a regulatory filing and a press release that it reached an agreement with an unnamed investor to amend the indentures (contracts, in other words) covering two issues of senior secured notes. Both notes mature in 2025; one carries a 10% coupon rate, and the other -- a convertible note that can morph into equity -- carries a 6% rate.

Under the terms of the agreement, Tellurian said, it will have a lower minimum cash balance requirement and will be able to make in-kind payments to satisfy interest owed the note holders.

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Source Fool.com