BRIEF-Niko Resources says is no longer in default of amended facilities agreement

Mon Jul 18, 2016 10:53am EDT
 
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July 18 (Reuters) - Niko Resources Ltd:

* Entered into an amendment to its senior term loan facilities agreement

* Company is no longer in default of amended facilities agreement or indenture

* Cash balance, projected cash flow from operating activities for FY 2017 expected to be sufficient to fund projected capital expenditures

* Not required to make interest payments under facilities agreement or indenture during term of amendments

* Says continued withholdings by Petrobangla of amounts will significantly impact co's ability to fund capital budgets for fiscal 2017 Source text for Eikon: Further company coverage: