Revealed: Hong Kong tycoon unhappy with Premier Oil's $2.8 debt deal; looking to form blocking group with other convertible bond investors - sources - part 3

Thursday, 9 March 2017, 10:37 am

I see Premier Oil is this morning claiming in its final results that its $2.8 billion jumbo refinancing will complete in late May. Here is the link:

http://www.investegate.co.uk/premier-oil-plc--pmo-/rns/final-results/201703090701079381Y/

But Anson Chan's investment vehicle, Pyrrho, hasn't given up on blocking on the refinancing deal. Here's what the pugnacious investor had to say on the matter this morning:

Since we first made our views clear, we have been contacted by a number of other convertible bondholders who also have concern about the restructuring process and the terms on offer. We do not believe the Premier oil restructuring is home and dry, they still need 75% of CB [Convertible Bond] holders' approval, which will not be easy".

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