MORE: Afren Lenders Agree to $50m Amortization Payment Delay
2015-03-02 07:28:42.100 GMT
By Tom Freke
(Bloomberg) -- Co. gets agreement from lenders to $300m
Ebok facility for further deferral of $50m amortization payment
due Jan. 31 to March 31, 2015.
* Co. also to use 30-day grace period under 2016 bonds on $15m
of interest due Feb. 1 while review of capital structure,
funding alternatives continues
* Co. continues discussions with ad hoc committee of
bondholders, also other stakeholders, new third party
investors on recapitalization
* NOTE: Yesterday, Sunday Times reported that Fosun backing
$500m cash deal; said bid unlikely to fail as creditors have
own plan for co.
* Feb. 26: Ashmore, Pimco Said to Seek Control of Afren in
Creditor Talks
Link to Statement
For Related News and Information:
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First Word newswire: NH BFW<GO>
To contact the reporter on this story:
Tom Freke in London at +44-20-3525-8153 or
tfreke@bloomberg.net
To contact the editors responsible for this story:
James Holloway at +1-212-617-4454 or
jholloway8@bloomberg.net
2015-03-02 07:28:42.100 GMT
By Tom Freke
(Bloomberg) -- Co. gets agreement from lenders to $300m
Ebok facility for further deferral of $50m amortization payment
due Jan. 31 to March 31, 2015.
* Co. also to use 30-day grace period under 2016 bonds on $15m
of interest due Feb. 1 while review of capital structure,
funding alternatives continues
* Co. continues discussions with ad hoc committee of
bondholders, also other stakeholders, new third party
investors on recapitalization
* NOTE: Yesterday, Sunday Times reported that Fosun backing
$500m cash deal; said bid unlikely to fail as creditors have
own plan for co.
* Feb. 26: Ashmore, Pimco Said to Seek Control of Afren in
Creditor Talks
Link to Statement
For Related News and Information:
First Word scrolling panel: FIRST<GO>
First Word newswire: NH BFW<GO>
To contact the reporter on this story:
Tom Freke in London at +44-20-3525-8153 or
tfreke@bloomberg.net
To contact the editors responsible for this story:
James Holloway at +1-212-617-4454 or
jholloway8@bloomberg.net