Alpha Pyrenees has announced that its main lender, Barclays, has agreed to extend the deadline for repaying its debt until 11 May 2015. The total outstanding is €271m. Alpha Pyrenees will pay 0.5% or €1.35m as a fee for the extension. The announcement says that the company is within its debt covenants as at 11 February and no further covenant tests will take place before 11 May.
The statement says the extension of the maturity date provides additional time for the Company to progress refinancing options including the potential refinancing of assets by third party lenders and potential asset sales.
ALPH : Alpha Pyrenees debt deadline extension