Brief: Sunshine Oilsands and forbearing holders confirm signing of forbearance reinstatement agreement

Sunshine Oilsands

21/03/2017 24:05

March 21 (Reuters) - Sunshine Oilsands Ltd  2012.HK  
    * Company and forbearing holders confirmed signing of 
forbearance reinstatement agreement and a note exchange 
agreement 
    * Principal payment terms of FRA include payment of 20 pct 
of yield maintenance premium originally due on August 1, 2016 by 
cash 
    * Company agreed to repay bond principal of approximately 
USD11.2 million by issuance of shares 
    * Payment terms of fra includes 80 pct of YMP will be repaid 
on august 1, 2017 as bond matures 
    * Board believes fra and nea will provide company with 
additional time to repay or refinance indebtedness owed by 
company to noteholders 
 
Source text for Eikon:  ID:nHKS6NZDW8  
Further company coverage:  2012.HK  
 
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