lone
Posted: Mon Aug 03, 2020 9:11 pm
Looks like lenders are giving them one month to pay up.
Lonestar Resources extends forbearance agreement
Aug. 3, 2020 5:55 PM ET|About: Lonestar Resources US Inc. (LONE)|By: Carl Surran, SA News Editor
Lonestar Resources (NASDAQ:LONE) discloses entering into an amendment to extend its forbearance agreement with noteholders to Aug. 21, according to an 8-K filing.
The company's failure to make a $14M interest payment on senior notes July 1 represented an event of default under its credit facility at that time.
Lonestar has warned that rising debt levels and falling commodity prices raised substantial doubt about its ability to continue as a going concern.
Now read: Lonestar Resources: Getting Closer To Restructuring ยป
(Seeking Alpha)