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News: AGO Atlas Iron updates on debt restructuring

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    05/04/16
    08:36
    Post #: 17421723

    April 5 (Reuters) - Atlas Iron Ltd (AGO) :

    • Update on debt restructure (AGO)
    • If financial restructuring is implemented, atlas will have reduced its term loan debt from US$267 million to US$135 million
    • The parties will enter into an amended sfa where six monthly asset coverage ratio covenant will be replaced with a minimum cash balance covenant
    • Atlas will repay a further amount of US$2.5 million of the debt owing under the sfa
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