Market Impact: Negative. Pacific had previously announced its decision to delay interest payments, and have now agreed with the 2019 and 2025 noteholders to make interest payments of approximately US$66.2 mm on March 31, 2016. We reiterate that the Company's net debt amount of approximately US$5.2 billion at 1Q16e has completed eroded all equity value.
19 Feb 2016
PACIFIC EXPLORATION & PRODUCTION (PRE) HAS REACHED AGREEMENT TO DELAY INTEREST PAYMENTS
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PACIFIC EXPLORATION & PRODUCTION (PRE) HAS REACHED AGREEMENT TO DELAY INTEREST PAYMENTS
Pensana Plc (PRE:LON) | 23.4 0 0.0% | Mkt Cap: 66.7m
- Published:
19 Feb 2016 -
Author:
Darren B. Engels -
Pages:
2
Market Impact: Negative. Pacific had previously announced its decision to delay interest payments, and have now agreed with the 2019 and 2025 noteholders to make interest payments of approximately US$66.2 mm on March 31, 2016. We reiterate that the Company's net debt amount of approximately US$5.2 billion at 1Q16e has completed eroded all equity value.