GREY:LFDEF - Post by User
Post by
URthereumon Feb 04, 2020 10:46am
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Post# 30639601
Did they pay off the Sabadell Loan?
Did they pay off the Sabadell Loan?It does not mention the Sabadell loan on the Feb 3, 2020 News Release. I wonder if they paid it off? They had two deferred payments due on Jan 31, 2020, which totalled €5.35. I am not an expert on disclosure, but if they previously mentioned the date of Jan 31, 2020 for principal repayment during 3rd quarter results, would they have had to provide an update on that loan if it was deferred again? Payment Deferral under €25 Million Secured Term Loan
>> In October 2019, Banco de Sabadell, S.A. ("Sabadell"), a lender to UrtheCast in connection with a secured term loan which is secured against the assets of the Deimos Imaging business, agreed to defer €1.35 million of the previously deferred €1.5 million principal payment to January 31, 2020 in exchange for a partial principal repayment of €0.15 million plus accrued interest. Furthermore, Sabadell agreed to defer the €4.0 million principal repayment that will be due in December 2019 to January 31, 2020 in order to provide the Company with additional time to complete the proposed sale of the Deimos Imaging business. <<