9th Apr 2015 07:02
LONDON (Alliance News) - Afren PLC on Thursday said it has decided to take advantage of a grace period on the payment of interest due on its 2019 bonds.
The oil and gas company said it would utilise a 30-day grace period under the 2019 bonds on the USD12.8 million interest payment that had been due on Wednesday, pending the completion of its interim funding process.
Afren is currently in talks on a USD200 million funding deal, agreed in principle in March, though it was hit by a minor delay last week. It still expects to conclude the financing talks "imminently", Afren said last week.
By Sam Unsted; [email protected]; @SamUAtAlliance
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