News VANCOUVER, July 5, 2018 /CNW/ - Alio Gold Inc (TSX: ALO) (NYSE AMERICAN: ALO) ("Alio Gold" or the "Company"), is pleased to announce that it has restructured the existing debt facility, with Macquarie Bank Limited ("Macquarie"), which was scheduled to be repaid in December 2018. As of June 30, 2018 the outstanding principal of $15 million will be repaid, in twelve quarterly payments of $1.25 million in principal together with accrued interest, ending in June 2021. The first principal and interest payment will be made September 30, 2018. The facility has an interest rate of LIBOR + 8% and is secured by a general security agreement and guarantee by Alio Gold.
"We are pleased to have the restructuring of the debt facility completed," said Greg McCunn, Chief Executive Officer. "Macquarie has demonstrated their commitment to support Alio as we advance the Florida Canyon mine to a steady state production level. The restructuring provides us with the financial flexibility to focus on operational efficiencies to reduce costs."
Read more at https://www.stockhouse.com/news/press-releases/2018/07/05/alio-gold-announces-restructuring-of-existing-debt-facility#ogdZiT0A1p1otY03.99