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clock Created with Sketch. 25/03/18
21:53
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Originally posted by danbradster
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The bonds will have a face value of $100, will pay a coupon of 9% per annum, payable quarterly in arrears and have a maturity date of 15th May 2018. The options will be issued to the initial investors under the bond issue in the ratio of one option for every $2.00 of bonds subscribed for by those investors, and will have a four year term and an exercise price of $1.30.
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"This new debt facility provides access to an additional $70m of funding over existing facilities. This does not include funds which may be available from the conversion of the $1.29 options held by bondholders (total c.$18m),"
