Babcock & Brown Power
(ASX:BBP) says it has signed agreements with its lenders and with the North West Shelf gas sellers for a restructure of the company.
The company began trading again this morning after announcing that its banking syndicate has agreed to refinance a$2.7 billion debt facility following in principle agreements reached earlier in the month.
Babcock & Brown Power has also signed a moratorium agreement with the North West Shelf gas sellers to address a dispute over prices.
In an update on its earnings for fiscal 2010, the company says it expects to include a profit of $345 million from the settlement with Babcock & Brown International Group, a loss of $132 million from the settlement of North West Shelf gas price arbitration and an impairment charge of $100 million.
Babcock & Brown Power posted a $167.68 million loss for fiscal 2009.
