Premier Oil PLC - oil and gas company with operations in countries including Mexico, the UK, Vietnam, and Brazil - Has received requisite level of support from each class of creditors for tie-up with Chrysaor Holdings Ltd and the reorganisation of existing finance pacts. "Under the support letter, the creditors have, among other things, irrevocably undertaken to vote in favour of the court-approved restructuring plans, and have agreed to waive Premier's financial covenants until completion of the transaction," Premier Oil explains.
Current stock price: 12.08, up 5.8% on Tuesday
Year-to-date change: down 88%
By Eric Cunha; ericcunha@alliancenews.com
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