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| Home : Phonetime Expands Its Senior Bank Facility to $3,500,000 |
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Aug 28
2013 |
Phonetime Expands Its Senior Bank Facility to $3,500,000 |
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TORONTO, ONTARIO--(Marketwired - Aug. 27, 2013) - Phonetime Inc. (TSX:PHD) announced today that it has renewed its senior debt facility with Royal Bank of Canada. The facility has been increased from $2,500,000 to $3,500,000, subject to customary collateral provisions. The borrowing costs under the new facility have also been reduced from base plus 3.75% per annum to base plus 2.5% per annum, or a 1.25% rate reduction. The senior debt facility will continue to have a first charge over all of the assets of Phonetime and contains other customary covenants. |
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| Source:http://www.marketwire.com/mw/release.do?id=1825003&sourceType=3 |
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