Spanish builder Sacyr is close to an agreement with banks on restructuring some 2.2 billion euros ($2.6 billion) of debt associated with its 9 percent Repsol stake, El Confidencial reported citing financial sources. The agreement includes extending the debt's maturity by at least four years in exchange for renewing guarantees against its Testa and Valoriza arms, and a commitment to sell a third of the Repsol stake once the shares recover, the newspaper said.The Spanish oil company's shares have fallen sharply in recent months amid tumbling oil prices and its plans to acquire Canadian oil producer Talisman Energy.According to the report, Sacyr is about to finalise an agreement with Santander, which holds about a quarter of the group's debt, and is likely to see acceptance from the minimum 75 percent of lenders needed to close the deal.Sacyr declined to comment. Santander was not immediately available for comment.
Talisman Energy Inc. (Talisman), is an oil and gas producers, through a combination of exploration, development and acquisitions. Shares of TLM traded higher by 0.53% or $0.04/share to $7.56. In the past year, the shares have traded as low as $3.46 and as high as $11.86. On average, 19175600 shares of TLM exchange hands on a given day and today's volume is recorded at 10670996.
Source
