1st Jul 2016 16:15
LONDON (Alliance News) - Oil and gas producer Gulf Keystone Petroleum Ltd on Friday said the standstill agreement with its note and bondholders has not been extended and it remains in talks on restructuring its debt.
Gulf Keystone said the standstill agreement on the coupon payments due to the note and bondholders has not been extended, having expired on Friday.
The company said it is now in talks on the terms of an agreement with certain restricted members" of the ad hoc committee of bondholders and other stakeholders and said the restructuring talks are ongoing.
Gulf Keystone add that, at this stage, it does not intend to make the April 2016 coupon payment due to its lenders.
Gulf Keystone shares closed down 1.2% at 4.85 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
Copyright 2016 Alliance News Limited. All Rights Reserved.
Related Shares:
Gulf Keystone Petroleum