Re: MD&A May 2014
Exall’s current debt level is approximately $59.0 million which includes $26.0 million of revolving demand credit held under a facility with an alternate Canadian lender that bears interest at the lender’s base prime rate plus 3.00 percent, $10.0 million of revolving demand credit held under a facility with an alternate Canadian lender that bears interest at the lender’s base prime rate plus 3.00 percent, which are reviewed periodically by the lender. To date, the facility review for 2014 has not been finalized. The balance of the debt is a $23.0 million Convertible Debenture with a maturity date of March 2017 that pays an annual interest rate of 7.75%.