Phoenix Global bridging facility from Mercuria upped to $41m

Mon, 10th May 2021

Oil company Phoenix Global Resources said Mercuria Energy Netherlands had upped a size of bridging facility to the company to $41 million. The principal terms were consistent with the existing facility, with a grace period for principal and interest to 30 June 2021, and repayment date of 30 June 2021. 'The board continues to believe that it will be able to agree the restructure of the existing debt with Mercuria and formalise an agreement for new funding,' Phoenix said. The bridging facility had been increased while those discussions ocntinued. At 8:40am: (LON:PGR) Phoenix Global Resources PLC share price was 0p at 5.98p Story provided by StockMarketWire.com

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