Debt | Financial Trouble | Capital Markets
Lilis Gets Extension for Borrowing Base Payment...Again
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Lilis Energy Inc. has received yet another extension on its deficiency payment from its bank lending group.
This is the second such extension Lilis has received (the first was granted on January 24, 2020).
The amendment to the revolving credit agreement provides for an extension of the first and second installment payments from February 7, 2020 to February 18, 2020, and from February 14, 2020 to February 18, 2020 respectively. The due dates for the two subsequent installment payments remain March 16, 2020 and April 14, 2020.
The Company is continuing to consider transactions to fund the repayment of the borrowing base deficiency on a timely basis.
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