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Angus Energy Repays GBP4 Million of Debt in First Cash Sweep After Financial Restructuring

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Angus Energy (ANGS.L) repaid debts totaling 4 million pounds sterling in the first cash sweep following its financial restructuring, according to a Monday filing.

The independent oil and gas company settled obligations of 2.5 million pounds under its amended agreement with royalty holders for its Saltfleetby gas field development with the repayment of the outstanding 2 million pounds.

The company also reduced the outstanding amount under its senior debt facility with Trafigura to 22.7 million pounds with a prepayment of 2 million pounds.

Including the latest cash sweep, Angus Energy has repaid 5.2 million pounds of debt principal since its restructuring, expediting its deleveraging strategy.

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