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PetroNeft has agreed an extension of a convertible loan with the five lenders
StockMarketWire.com
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Oil and gas exploration company PetroNeft said it has reached an agreement with the five lenders of a convertible loan that matured on 31 December 2020 to extend the term of the loan.
PetroNeft agreed a convertible loan facility of $1.3 million with a group of five lenders in June 2019.
Under the terms of the loan extension, the loan will have a maturity date from 31 December 2020 to 31 December 2021, the interest rate is to remain at 8% above LIBOR and the convertible right is to remain at 65% of the loan amount.
At 9:38am: (LON:PTR) Petroneft Resources PLC share price was 0p at 0.55p
Story provided by StockMarketWire.com
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