TSX:IBG.DB.E - Post by User
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nuveux13on May 14, 2014 9:20am
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Post# 22559387
Tuckamore (TSE:TX) Debs Resolution facing severe cash crunch
Tuckamore (TSE:TX) Debs Resolution facing severe cash crunchTuckamore (previously Newport Partners TSE:NPP) was also unable to redeem their debs nor could they pay the accrued interest. They extended the debs maturity by 5 years and added a 2% interest rate premium to the extended debs. For the accrued interest owed, they paid the interest in the form of a new deb maturing in 3 years at a low interest rate of 3.5% cumulated to the maturity date. This satisfied the small retail as well as the large investors.