Topaz in talks on capital facility

Energy firm Topaz is involved in twin negotiations aimed at rescheduling its bank debt, as well as refinancing its working capital facility.

It is believed the firm is at an advanced stage of negotiations, with a mix of domestic and international firms to refinance its working capital facility.

According to its 2012 accounts, the firm negotiated a working capital facility with IBRC, which was scheduled to run to the end of Dec 2013. At Mar 31, 2012, Topaz had just over €41m of a working capital facility that it still had to draw down.