Premier in merger talks with Chrysaor as alternative to creditor debt refinance deal

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Premier Oil is in early-stage talks with private equity-backed North Sea rival Chrysaor over a potential alternative deal to refinance its USD 2.9 billion debt pile, which could involve a merger of the two companies. If agreed, this would see Premier turn its back on a preliminary deal agreed last month with creditors to extend maturities by four years, out to 2025 – but Premier cautioned that it is yet to see an alternative proposal that beats this agreement.

London-listed Premier today confirmed ...

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