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Rooster Energy completes subordinated secured credit facility


Published Mar 18, 2014
Rooster Energy Ltd.

Rooster Energy Ltd. announced that effective March 7, 2014, it entered into a secured credit facility (the "Credit Facility") which provides for borrowing up to US $10 Million, to be used for general corporate purposes.

The initial advance under the Credit Facility is US $4.4 Million, net of an original issue discount of 10% for a funded amount equal to US $4 Million. The Credit Facility is fully subordinated to an existing senior secured term loan in the principal amount of US $22.5 million that Rooster entered into as of October 22, 2012 and which matures on October 22, 2014.

Tags: Rooster Energy




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