From Adria Calatayud
Phoenix Global Resources PLC has reportedly received $ 1.5 million in additional funding from Mercuria Group as both parties continue talks on restructuring existing loans.
The Argentine oil and gas company said Mercuria has agreed to increase a bridging facility by $ 1.5 million to $ 42.5 million, with principal and interest repayment extended until September 30th to September 30th said Phoenix.
The UK-listed Phoenix said Mercuria had previously announced its intention to financially assist the company to service its debt for the year following its 2020 financial statements and to meet the company’s cash needs for that period.
Write to Adria Calatayud at [email protected]
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