Fieldfisher completes successful debt restructuring for Echo Energy plc

Fieldfisher has advised longstanding client AIM-listed Echo Energy plc, a Latin American-focused upstream oil and gas company, in relation to the restructuring of its €20 million Luxembourg-listed loan notes. The transaction involved the maturity date of the notes being extended by three years until May 2025 and all cash interest payments being rolled up to the maturity date.
 
The transaction was part of a wider transaction in which Echo Energy restructured all of its existing debt facilities.
 
The new arrangements result in no cash payments to Noteholders until maturity in 2025 and allowing the Company to focus on implementing its strategy.
 
The Fieldfisher team advising Echo on its debt restructuring was led by Yannis Erifillidis in Fieldfisher's debt capital markets team.  Dominic Gurney-Champion and Jessie Abrahamson-Flynn were also involved in advising Echo on the wider re-structuring proposals.