RE: RE: RE: So BobbyArrangement of US $100 million Secured Term Loan Facility
Mart, through its wholly-owned Nigerian subsidiary, has arranged a US $100 million secured term loan facility with Guaranty Trust Bank PLC with the intent to finance capital expenditures required for further field development activities and Mart's ongoing working capital requirements.
The secured loan facility has a term of five years and bears interest at 90 days LIBOR plus 4% (floor of 8.25%).
Wade Cherwayko, Chairman & CEO of Mart Resources stated: "Mart is very pleased to have made this arrangement with Guaranty Trust Bank PLC and anticipates that the additional flexibility the facility can provide will enable Mart to move ahead quickly with development and potential growth plans."
Read more at https://www.stockhouse.com/bullboards/messagedetail.aspx?s=MMT&t=LIST&m=32376970&l=0&pd=1&r=0#SPp5zLjSK1AatGkr.