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BRIEF-Abraxas - On April 12, 2021, Morgan Stanley Capital Group Sent Notice Of Events Of Default, Early Termination With Respe

路透社 ·  2021/04/23 06:19
April 22 (Reuters) - Abraxas Petroleum Corp :
   * ABRAXAS - ON APRIL 12, 2021, MORGAN STANLEY CAPITAL GROUP SENT NOTICE OF EVENTS OF DEFAULT, EARLY TERMINATION WITH RESPECT TO HEDGING CONTRACTS
   * ABRAXAS PETROLEUM CORP - IN DISCUSSION WITH LENDERS SEEKING ADDITIONAL FORBEARANCE, WAIVERS OR AMENDMENTS TO COVENANTS OF REVOLVING CREDIT FACILITIES
   * ABRAXAS - DO NOT ANTICIPATE THAT WE WILL MAINTAIN COMPLIANCE WITH SECOND LIEN CREDIT FACILITY TOTAL LEVERAGE RATIO COVENANT OVER NEXT 12 MONTHS
   * ABRAXAS PETROLEUM CORP - INTEND TO ENTER INTO AN AGREEMENT WITH OUR REMAINING SWAP COUNTERPARTY FOR TERMINATION OF ALL OF OUR HEDGING CONTRACTS
   * ABRAXAS PETROLEUM CORP - ON APRIL 16, RECEIVED NOTICE OF DEFAULT FROM ANGELO GORDON STATING THAT WE HAVE DEFAULTED UNDER SECOND LIEN CREDIT AGREEMENT

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