APR Energy in talks to amend credit facility

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Feb 23 (Reuters) - APR Energy Plc (Other OTC: APRYF - news) , a provider of temporary power systems, said it was seeking an amendment to its credit facility that would allow it to avoid breaching covenants.

Shares (Frankfurt: DI6.F - news) of the company fell 13 percent to 261.5 pence in early trade on the London Stock Exchange (Other OTC: LDNXF - news) on Monday.

The talks with the company's banks come about a month after APR said it would exit Libya following a government decision not to ratify a major contract. Libya accounted for about a quarter of APR's sales in 2013.

APR said it was currently in compliance with its covenants, but a breach could lead to the reduction or removal of its financing arrangements.

APR's Libyan operations were key to the company turning a profit in 2013, and the announcement of its departure sent its shares to a record low.

Analysts had expressed concern about APR's ability to meet its credit requirements after leaving Libya, but were optimistic about support from its banks.

(Reporting by Abhiram Nandakumar in Bengaluru; Editing by Anupama Dwivedi)