IGas Energy's (LON:IGAS) proposed amendments to its bond terms have been accepted by the vast majority of lenders.
The British onshore oil and gas company told investors that it was given the backing of 98.57% of vote from secured bondholders, whereas 100% of votes from unsecured bondholders were in favour of the proposition.
As a result the group can now change its financial calendar, to put it in line with major new partner INEOS (which agreed in March to take a controlling stake in shale gas licences and invest £138mln into the project).
It means IGas can improve reporting for stakeholders, the company said.
IGas is also now able to relax certain bond covenants relating to those used to measure leverage, as well as a relaxation of hedging obligations (which can now factor in the amount of cash cover).
The company issued US$165mln of secured bonds in 2013, as well as US$30mln of unsecured bonds.