6th Jan 2020 11:48
(Alliance News) - Premier Oil PLC has hired investment bankers as a battle with lenders escalates, the Sunday Telegraph reported.
The newspaper said lender Barclays PLC has offloaded USD90 million of debt owed to it by Premier to a group of hedge funds, including Asia Research & Capital Management.
ARCM has built up a GBP130 million bet against Premier's share price, the Telegraph continued, which it said is one of the biggest in UK corporate history, at the same time as buying some of Premier's GBP1.8 billion of debt.
https://www.telegraph.co.uk/business/2020/01/04/premier-oil-hires-rothschild-2bn-debt-battle-lenders/
Premier shares were 0.2% lower on Monday in London at a price of 100.97 pence each.
By George Collard; [email protected]
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