RE: Results9 Sep 2020 08:35
Not that keen on the below statement.................
The Group's cash flow projections forecast a potential liquidity shortfall during the 18-month period relevant to the Liquidity Forecast Test in respect of the January 2021 RBL re-determination due to the maturity of the $650m Senior Notes due in April 2022. If the Group is unable to demonstrate to the reasonable satisfaction of the relevant majority of its lenders under the RBL Facility that it has, or will have, sufficient funds available to meet the Group's financial commitments for the 18-month testing period from February 2021 to July 2022 inclusive, and the Group is unable to cure the forecast liquidity shortfall within 90 days following the date on which it becomes aware that it has not passed the Liquidity Forecast Test, there will be an event of default under the RBL Facility by the end of April 2021.