Reuters logo
BRIEF-IMPERIAL ANNOUNCES DETAILS OF FINANCING PLAN
October 27, 2017 / 1:30 PM / in 23 days

BRIEF-IMPERIAL ANNOUNCES DETAILS OF FINANCING PLAN

Oct 27 (Reuters) - Imperial Metals Corp

* IMPERIAL ANNOUNCES DETAILS OF FINANCING PLAN

* ‍IT HAS CONCLUDED ITS DISCUSSIONS WITH ITS SENIOR CREDIT FACILITY AND SECOND LIEN CREDIT FACILITY LENDERS​

* SENIOR CREDIT & SECOND LIEN LENDERS AGREED TO PERMANENTLY WAIVE BREACH OF EBITDA COVENANT RELATED TO QUARTER ENDED JUNE 30

* SENIOR CREDIT FACILITY AND SECOND LIEN CREDIT FACILITY​ WILL BE EXTENDED TO OCT 1, 2018 AND DEC 1, 2018 RESPECTIVELY

* ‍BOARD ALSO APPROVED ESTABLISHMENT OF NEW $10 MILLION UNSECURED DEBT FACILITY TO BE PROVIDED BY AN AFFILIATE OF EDWARDS​

* ‍APPROVED OFFERING FOR HOLDERS OF COMMON SHARES BY ISSUE OF RIGHTS ENTITLING THEM TO SUBSCRIBE FOR ABOUT $40 MILLION OF SHARES​ Source text for Eikon: Further company coverage:

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below