Echo Energy PLC - Latin American focused upstream oil & gas company - Says noteholders have agreed to extend maturity of the EUR12.5 million notes by three years to mid-May 2025.
"I am delighted that Echo has now successfully completed the restructuring of its debt obligations. The new arrangements result in no cash payments to noteholders until maturity in 2025. This enables the board to focus on rapidly delivering on its strategy to improve shareholder returns," says Chief Executive Martin Hull.
Current stock price: 1.35 pence, up 47% on Wednesday
Year-to-date change: more than doubled from 0.55p on December 31
By Evelina Grecenko; evelinagrecenko@alliancenews.com
Copyright 2021 Alliance News Limited. All Rights Reserved.
Echo Energy (ECHO)