Nighthawk Energy Appoints U.S. Bank to Advise on CBA Debt
25 Gennaio 2018 - 10:06AM
Dow Jones News
By Ian Walker
Shares of Nighthawk Energy PLC (HAWK.LN) rose 16% in early trade
Thursday after the company said that it has appointed U.S.
investment bank SSG Advisors LLC to advise it on options to
restructure the company's outstanding debt with Commonwealth Bank
of Australia.
The U.S.-focused oil development and production company said it
is currently in compliance with all existing waiver covenants under
the loan.
Last month, Nighthawk agreed to an extension of its loan with
the Australian bank until June 1 and a waiver of the minimum
production agreement. It also agreed to appoint an investment bank
to advise on future options regarding its debt given the
uncertainty of its ability to pay the loan.
The company currently has a loan of $21.25 million with CBA.
Shares at 0830 GMT were up 0.07 pence, or 16%, at 0.55
pence.
Write to Ian Walker at ian.walker@wsj.com; @IanWalk40289749
(END) Dow Jones Newswires
January 25, 2018 03:51 ET (08:51 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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