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- Terracom (TER) shares are trading in the red as the company pushes back its debt refinancing programme a further two weeks
- The resources company said refinancing had progressed but needed “additional time” to see it through to completion
- Existing bondholders have agreed to extend the Euroclear Bond maturity date until Friday, September 17, 2021
- Terracom shares were down 3.13 per cent at 1:22 pm AEST to trade at 15.5 cents
Terracom (TER) shares are trading in the red as the company pushes back its debt refinancing programme a further two weeks.
In a statement to the market today, the resources company said its programme to refinance its debt had “progressed” but needed “additional time to see it through to completion.”
Terracom said existing bondholders have agreed to extend the Euroclear Bond maturity date until Friday, September 17, 2021, but have been “supportive” on the matter.
The company said it will continue to work with the incoming debt funder and existing bondholders to close all final elements of the refinance programme within the next extension timeframe.
TER tabled a three-week extension to today back in August, advising that documentation was at “advanced” stages and would take a couple of weeks to finalise.
Terracom Executive Chairman Craig Ransley commented on the update.
“We appreciate the ongoing support that the existing bondholders have provided to the company and throughout this refinance process,” he said.
“The company looks forward to finalising the refinance program as soon as practicable.”
Terracom shares were down 3.13 per cent at 1:22 pm AEST to trade at 15.5 cents.
