December 22, 2015 |
Pacific Exploration and Production Corp. is negotiating the terms of a possible extension of covenant relief on four credit facilities, the Colombian-Canadian oil producer said in a regulatory filing.
Pacific said that the syndicate of banks that granted a $1bn 2017 revolver in April 2014 have formed a steering a committee to evaluate the request. Pacific said in September that it had obtained waivers through December 28 to the covenant that required the company keep its net worth abov
The company seeks to extend waivers