Afren's shares jumped 11 percent to 3.45 pence on the announcement.

The company had agreed with some of its bondholders to issue super senior private placement notes by the end of March for $200 million in funding as part of a deal that will dilute its current investors' stake down to 11 percent.

The company, which was due to report 2014 results this week, said it would release the results when it issues the notes.

Afren also said its lenders under its $300 million Ebok facility had agreed to defer a $50 million amortisation payment to the end of April. The payment was originally due on Jan. 31.

(Reporting by Abhiram Nandakumar in Bengaluru; Editing by Maju Samuel)