TSX:SRV.UN - Post by User
Comment by
Wordless1on Jul 19, 2021 4:09pm
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Post# 33570530
RE:RE:Opco Debt Levels
RE:RE:Opco Debt LevelsMy bad there debt appears to be close to $37M.
$24.3M + EDC $6.25M + BDC $6.25M = $36.8M
They basically took advantage of the government back programs to pay down their bank. Debt hasn't decrease at all.
The Company received the $6,250,000 BDC-Guaranteed Facility under the seventh amendment effective March 31, 2021. SIR and the Lender have also entered into a purchase card agreement providing credit of up to an additional $1,500,000.
As at May 9, 2021, the Company has drawn $24,279,000 on Credit Facility 1 and Credit Facility 2, net of cash
The BDC-Guaranteed Facility bears interest at a fixed rate of 4%. The BDC-Guaranteed Facility is a 10 year revolving-term credit facility, with a one year principal payment moratorium and can be extended at the Lender’s sole discretion by a further 12 months. For the 36-week period ended May 9, 2021, SIR has drawn $6,250,000 million on this facility.