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| Home : HII Technologies, Inc. Announces Notice of Default Under Its Senior Loan Facility |
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Jul 16
2015 |
HII Technologies, Inc. Announces Notice of Default Under Its Senior Loan Facility |
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HOUSTON, TX--(Marketwired - July 15, 2015) - HII Technologies, Inc. (OTCQB: HIIT) ("HII Technologies" or the "Company"), an oilfield services company headquartered in Houston, Texas, received notice from Heartland Bank that it is in default under the loan agreements for its senior secured credit facility, which consists of a $12 million 3-year term loan and a $6.6 million account purchase agreement. This default could lead to a mandated acceleration of repayment of the $11.46 million of indebtedness currently outstanding under this facility, of which approximately $9.2 million is outstanding under the term loan and approximately $2.26 million is outstanding under the account purchase agreement, net of the $1.09 million held in reserve. |
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| Source:http://www.marketwired.com/mw/release.do?id=2038961&sourceType=3 |
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