Echo Energy PLC - Latin American-focused upstream oil & gas firm - Says that following positive and constructive discussions with certain holders of the company's Luxembourg listed EUR 20.0 million 8.0% secured notes, meeting has now been convened on March 15. Echo is seeking to extend the maturity of the notes by three years to May, 15 2025 and remove all cash interest payments on the notes prior to the maturity date. If approved by the requisite majority of noteholders, any interest on the notes accruing from December, 31 2019 shall be paid in cash on the maturity date.
Current stock price: 0.68 pence
Year-to-date change: up 24%
By Arvind Bhunjun; arvindbhunjun@alliancenews.com
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Echo Energy (ECHO)