Peninsula Energy announces agreement to repay majority of outstanding loans

November 05, 2019 03:37 AM CET | By Team Kalkine Media

Peninsula Energy Limited (ASX:PEN) has announced that it has reached an agreement with Resource Capital Fund VI L.P, Pala Investments limited and entities associated with Investment Fund Collins Street Value Fund on the terms of proposed restructure of the existing US$17 million convertible note facilities. Key highlights of the announcement are as follows:

  • Agreement to repay most outstanding loans through partial contract monetisation.
  • If monetisation completed by 30 April 2020, Extension of debt repayment date of residual debt to 22 April 2021.
  • If monetisation does not complete by 30 April 2020, the outstanding loan amounts will become due and payable by 31 October 2020.
  • Residual Debt amended to straight term loans, interest rate reduced by two percentage points and reduced the financial undertaking on residual debt.Â

Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Limited, Company No. 12643132 (Kalkine Media, we or us) and is available for personal and non-commercial use only. Kalkine Media is an appointed representative of Kalkine Limited, who is authorized and regulated by the FCA (FRN: 579414). The non-personalised advice given by Kalkine Media through its Content does not in any way endorse or recommend individuals, investment products or services suitable for your personal financial situation. You should discuss your portfolios and the risk tolerance level appropriate for your personal financial situation, with a qualified financial planner and/or adviser. No liability is accepted by Kalkine Media or Kalkine Limited and/or any of its employees/officers, for any investment loss, or any other loss or detriment experienced by you for any investment decision, whether consequent to, or in any way related to this Content, the provision of which is a regulated activity. Kalkine Media does not intend to exclude any liability which is not permitted to be excluded under applicable law or regulation. Some of the Content on this website may be sponsored/non-sponsored, as applicable. However, on the date of publication of any such Content, none of the employees and/or associates of Kalkine Media hold positions in any of the stocks covered by Kalkine Media through its Content. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music/video that may be used in the Content are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music or video used in the Content unless stated otherwise. The images/music/video that may be used in the Content are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated or was found to be necessary.

Sponsored Articles