Premier Oil creditors back new debt structure, shares rally

(Reuters) - Creditors of Premier Oil gave the indebted oil and gas producer their approval for $800 million (£616.1 million) of North Sea acquisitions under a scheme that would allow it to delay debt repayments and issue new shares.Shares in Premier Oil spiked to session highs following Wednesday's announcement, and by 1357 GMT they were up 2.7% at 104.6 pence.The vote supporting Premier's management is a blow to hedge fund ARCM, which holds 15% of Premier's debt and has had a growing short..