(Alliance News) - Curzon Energy PLC on Friday said it has agreed to refinance its outstanding secured loan notes of GBP216,553 and its unsecured loan notes of USD200,000.
Back in February, Curzon had agreed with the secured note lenders to capitalise the amounts due to date into a new principal amount of GBP263,265 as of April 1. The interest rate is to remain the same, at 13% per annum.
The maturity date of the secured loan notes has been extended to October 1.
The energy company said the lenders of the unsecured loan notes also agreed to extend the existing balance to the beginning of October. The interest rate is to remain the same at 15% per annum, and the total outstanding principal and interest is USD238,918.
Curzon shares closed untraded in London on Friday, last quoted at 0.54 pence each.
By Evelina Grecenko; evelinagrecenko@alliancenews.com
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Curzon Energy (CZN)