At no point did they say that they are trying to restructure the same the same loan?
Read the announcement properly...
"As announced on 8 January 2020, Gulf executed a binding term sheet for the establishment of a €52 million Structured Loan Facility ("Loan Facility") with Glacier International Depository Ltd, Legal and General Investment Management Limited and HSBC Bank Plc. With the ongoing delays reported by Glacier, funds have continued to be delayed and there is uncertainty regarding their ability to conclude the transaction. Consequently, the Company is pursuing other options and is in discussion with new investors to take a key position in the Company and refinance the project. These discussions are expected to be completed in the near future."
Nothing about keeping the same loan conditions....
GMC Price at posting:
0.6¢ Sentiment: Hold Disclosure: Held
