AZZ antares energy limited

elgaes,Sorry they didn't pay down $33M of debt in 2013.Ifino,The...

  1. 5,038 Posts.
    lightbulb Created with Sketch. 454
    elgaes,

    Sorry they didn't pay down $33M of debt in 2013.

    Ifino,

    The notes were recently re-set, for the last 5 years or more the conversion rate was 1 share for each $2 loan note plus the 10% interest rate.

    In September 2013 it was changed to 3 shares for each $2 loan notes. To ensure they rolled over the loan notes and didn't have to pay-out $7M in redemptions.

    The next re-set date is now Sept 2015, so if the company can't repay the loans at that date, the loan note holders can force better terms from the company yet again, like a conversion rate of 4 or 5 shares per $2 loan note and a higher coupon.

    LOTM
 
Add to My Watchlist
What is My Watchlist?
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.

Currently unlisted public company.

arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.