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| Home : Banro Increases Debt Offering to US$175 Million |
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Feb 24
2012 |
Banro Increases Debt Offering to US$175 Million |
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TORONTO, ONTARIO--(Marketwire - Feb. 24, 2012) - Banro Corporation ("Banro" or the "Company") (TSX:BAA)(NYSE Amex:BAA) is pleased to announce that, further to its February 6, 2012 press release, it intends to increase the size of its brokered private placement debt offering to gross proceeds of US$175 million. This financing now involves an offering by the Company of 175,000 units consisting of US$175,000,000 aggregate principal amount of senior secured notes with an interest rate of 10% and a maturity date of March 1, 2017 (the "Notes") and 8,400,000 warrants (the "Warrants") to purchase an aggregate of 8,400,000 common shares of the Company. Each such unit will consist of US$1,000 principal amount of Notes and 48 Warrants, with each Warrant entitling the holder to purchase one common share of the Company at a price of US$6.65 for a period of five years. |
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| Source:http://www.marketwire.com/mw/release.do?id=1624270&sourceType=3 |
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