Friday October 23, 2020

Petroceltic's bank waiver extended again as review goes on

The exploration company is carrying out a strategic review of its business

18th January, 2016
Brian O Catháin. Pic:

Petroceltic said it has received a further waiver of repayments under its senior bank facility until January 29 as a strategic review continues at the company.

The exploration company said its lenders had also indicated a willingness to consider such further waivers "as may be required to continue the strategic review process".

Petroceltic, which has interests in North Africa, the Mediterranean and the Black Sea, breached the terms of its banking covenants before Christmas, prompting the...

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