'another partner with no money' ?13 Feb 2020 11:19
ralph2010 Posted yesterday re the Premier Creditors vote
Posts: 1,267 Price: 16.26 No Opinion RE: RKH Wed 15:02
Ausole - Yes I'm quite sure:
Nothing to do with SL and previously 'another partner with no money'
* Premier is also pleased to announce the proposed extension of its existing credit facilities to 30 November 2023.
* acquired assets forecast to generate over US$1 billion of free cash flow to end 2023
* Materially strengthen Premier's financial position
* Additional free cash flow accelerates debt reduction
*Significantly reduce forward covenant leverage ratio towards 1x by 2022
*The acquisitions will be funded by a USD500 million equity raise, and, if needed, a USD300 million bridge facility
* In addition, Premier today provides a separate trading update ahead of its 2019 Full Year Results including the proposed farm-out of part of its Sea Lion and Tuna assets.
More than 80% of creditors who are involved in lending arrangements related to the acquisition backed the scheme.