22nd Feb 2016 08:37
LONDON (Alliance News) - Trinity Exploration & Production PLC on Monday said 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.
This is Trinity's 21st extension and runs until February 26.
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.
Shares in Trinity were trading down 2.2% at 3.18 pence on Monday morning.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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