LONDON (Alliance News) - Xcite Energy Ltd on Thursday said its bondholders have agreed to extend the maturity date of its bonds to the end of September to continue restructuring talks.
Xcite is in talks with the principal holders of USD135.0 million worth of senior secured bonds on a potential restructuring, but no agreement has yet been reached.
Following the meeting, the deadline for Xcite and the bondholders to negotiate any amendments has been extended to September 30 from a previous deadline of Thursday.
Xcite shares were up 13% to 9.33 pence.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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