1st Feb 2016 09:45
LONDON (Alliance News) - Trinity Exploration & Production PLC said Monday that it has agreed a further extension to the moratorium on repayments relating to its outstanding debt balance of USD13.0 million with its lender Citibank until Friday.
This marks the nineteenth time the company has been granted an extension on the talks.
The company said that it is continuing talks with the lender to secure a further extension of its credit facilities, and added that it expects for there to be continued support, particularly following the announcement of the sale of substantially all of its onshore assets for USD20.8 million.
Trinity shares were down 16% at 246 pence Monday.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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