Wood Group further extends debt facility waivers

(Sharecast News) - Wood Group said on Tuesday that it has secured a further extension to the temporary waivers on its committed debt facilities, pushing the expiry date to 31 July as discussions with lenders continued. The waivers, which were originally due to expire at the end of April and then extended to 30 June, were also broadened to cover the financial covenants for the period ended 30 June.

Wood said it was in "constructive dialogue" with its lenders and noteholders regarding proposed debt modifications and the liquidity arrangements connected to the possible offer from Sidara.

Its shares remained suspended from trading on the London Stock Exchange.

Reporting by Josh White for Sharecast.com.