Brief: Dome Energy reduces total debt to <$24 million

Hotel Fast SSE AB (publ)

30/05/2016 07:45

May 30 (Reuters) - Dome Energy publ AB  DOMEN.ST : 
    * Says executes agreement for significant debt refinancing 
    * Says Dome Inc. has signed a forbearance agreement with Administrative Agent on behalf of 
Dome's lenders 
    * As part of agreement, Dome Energy Inc. sold off all of its hedges to repay the debt and 
lenders agreed to offer debt reduction based on Dome's current debt of $38 million to $24 
million 
    * Has received offers from several US based funds to replace existing debt with new debt and 
believes will close transaction within 60 days 
    * Says Range Ventures LLC, has agreed in principle, to convert its receivables at 
considerable premium to market 
    * Conversion will be at $1 (about 8 Swedish crowns) per share  
    * Following debt write-down, sale of hedges and conversion of Range Ventures LLC debt, Dome 
Energy's new debt will stand at about $24 million 
 
 
Source text for Eikon:  ID:nWkreD9672  
Further company coverage:  DOMEN.ST  
 
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