Brief: Petropavlovsk Confirms Certain Waivers In Respect Of ICBC Facility

IRC

20/06/2018 07:16

June 20 (Reuters) - Petropavlovsk PLC  POG.L :
    * CONFIRMS CERTAIN WAIVERS IN RESPECT OF ICBC FACILITY HAVE
BEEN
GRANTED BY ICBC, SUBJECT TO FULFILMENT OF CERTAIN CONDITIONS
    * ICBC HAS GRANTED K&S AND PETROPAVLOVSK WAIVERS FROM
OBLIGATION
TO COMPLY WITH CERTAIN FINANCIAL COVENANTS
    * ICBC HAS GRANTED K&S A WAIVER FROM ITS OBLIGATION TO
MAINTAIN
CERTAIN CASH DEPOSITS WITH ICBC
    * WAIVERS WILL BE EFFECTIVE UPON FULFILMENT OF CERTAIN
CONDITIONS
PRECEDENT AND WILL CONTINUE UNTIL 31 DECEMBER 2018
    * IS A SHAREHOLDER (31.1%) OF IRC LIMITED AND IS GUARANTOR
OF
IRC'S $340 MILLION PROJECT FINANCE FACILITY

Source text for Eikon:  ID:nRST9614Ra 
Further company coverage:  POG.L 

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