phoenix global resources plc said thursday that its major shareholder has agreed to further increase a bridging debt facility to 675 million from 50 million to fund its planned work programs the oilandgas company said that the terms of the facility from shareholder mercuria energy group ltd are consistent with those agreed on sept 23 when mercuria previously increased the facility and agreed to extend the repayment date for principal and interest to dec 31 mercuria also agreed then to delay the interest payment grace period and first repayment date for the convertible facilities agreement the board continues to believe that it will be able to agree the restructure of the existing debt with mercuria and formalize an agreement for new funding the company said