|
| Home : HKN Announces Bridge Loan Made to Everest Hill Group, Inc. |
|
Sep 16
2015 |
HKN Announces Bridge Loan Made to Everest Hill Group, Inc. |
|
DALLAS, TX--(Marketwired - September 15, 2015) - HKN, Inc. (OTCQB: HKNI) ("HKN" or the "Company") announced that the Company along with its affiliate Global Energy Development PLC ("Global") had extended a $10 million short-term secured loan to Everest Hill Group, Inc. ("Everest Hill"), the Company's controlling stockholder. The Company loaned $2 million of the total loan amount, and Global loaned the remaining $8 million. The principal amount of the loan is payable in full on March 15, 2016, and the loan bears interest which is payable monthly at the annual rate of 12%. The loan is secured by the pledge of 264,323 shares of the Company's common stock and 9,378,638 ordinary shares of Global owned by subsidiaries of Everest Hill. |
|
|
|
| Source:http://www.marketwired.com/mw/release.do?id=2055730&sourceType=3 |
| |
|
Related News
|
» Canada Pension Plan Investment Board to Invest GBP 142.4 Million in Entertainment One Ltd.
» Macro Enterprises Inc. Announces Successful Closing of $115 Million Senior Credit Facilities
|
|
|
