Corral Petroleum Holdings AB Press Release 14 April
Corral Petroleum Holdings announced that the waiver previously obtained by Preem AB with respect to the interest coverage and leverage ratios for the period ended March 31, 2014 under the Credit Agreement dated 14 September 2011 among Preem AB and the lenders party thereto, pursuant to which the lenders have agreed to waive any default and their rights to take any action under the Credit Agreement arising out of Preem AB’s potential failure to comply with the financial covenants, has been extended until June 30, 2014.
Preem and the lenders intend to negotiate amendments to those financial covenants for the period ended March 31, 2014 and for certain future periods and to agree on those amendments by June 30, 2014, but there can be no assurance that Preem and the lenders will be able to agree on those amendments within that time period.
For more information:
Magnus Heimburg, CFO, mobile +46 70 450 10 44, email email@example.com