GREY:PRBEQ - Post by User
Comment by
Eagle100on Mar 22, 2016 3:23am
110 Views
Post# 24686641
RE:clarification on terms
RE:clarification on termsthank you westcoast for your response and believe me, I am not trying to bash anything here. However, there is really no way to misunderstand, what has been fixed... Minimum 13%!!!! Additionally 8% until June 2016... and what is " in kind "..??? Service or oil/gaz on an intercompany price level? They rob us all
all of the financial and performance covenants of the credit facility and scheduled loan amortization are waived for the fiscal quarters ending March 31, 2016 and June 30, 2016. The Notes bear interest at a rate equal to Libor + 11.5% per annum with interest payments due monthly; the minimum interest rate will be 13.0% per annum. Additionally, from and after March 9, 2016 until June 30, 2016 interest at the rate of eight percent (8%) per annum shall be payable in kind.