April 5 (Reuters) - Atlas Iron Ltd AGO.AX :
* Update on debt restructure AGO.AX
* If financial restructuring is implemented, atlas will have reduced its term loan debt from US$267 million to US$135 million
* The parties will enter into an amended sfa where six monthly asset coverage ratio covenant will be replaced with a minimum cash balance covenant
* Atlas will repay a further amount of US$2.5 million of the debt owing under the sfa
* Source text for Eikon