Completion of the refinancing – Premier Oil | Bhatia Brothers Group

By | November 27, 2019

Key terms of the refinancing
• Confirmation of total existing facilities of US$3.9bn with undrawn capacity preserved
• Alignment of final maturity dates to 31 May 2021
• Amendment of Premier’s financial covenants, currently anticipated to be
• Net debt to EBITDA cover ratio reset to 7.5x until end 2017 reducing to 5.0x at the end of 2018, before returning to 3.0x in 2019

Please read the originial post here:

Author: Madhav Bhatia

The Bhatia Brothers founding father and young industrialist B.V. Bhatia set up a modest family business in Gulf and India. With an unswerving commitment to offer the best in value and quality to every customer, the ambitious B.V. Bhatia worked assiduously to realize his vision. Today over 100 years and four generations later, the legacy of principles and values B.V. Bhatia instilled in his family continues to be the foundation for Bhatia Brothers Company. Bhatia Brothers, Head Quarters is in Dubai, U.A.E is one of the oldest Business House in the region and has offices and warehouses spread over the Middle East. Bhatia Brothers also has its presence in countries like Oman, Qatar, Kuwait, India, Iraq, Nigeria and UK. Bhatia Brothers caters to varied industries with focused divisions created to serve the targeted industry. The division further operates through autonomous business units designed to serve the customers. The companies engineering businesses are certified with International Quality Standard Operations (ISO 9000) or equivalent.