Archer Limited : Update on comprehensive refinancing - final documentation in agreed form and implementation by way of scheme of arrangement commenced
Hamilton, Bermuda (May 3, 2017) Reference is made to the release concerning the comprehensive debt refinancing (the "Refinancing") of Archer Limited ("Archer" or the "Company") as announced on 28 February 2017. As previously announced, Archer has secured agreement with lenders representing 94% of the exposure under the Company's main facility, the USD 625 million revolving credit facility (the "RCF"), for a restructuring of the RCF on favorable terms. Archer is pleased to report that the documentation necessary to implement the Refinancing (the "Amendment Documentation") is in