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| Home : Touchstone Announces Repayment of Long-Term Debt |
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Jul 02
2014 |
Touchstone Announces Repayment of Long-Term Debt |
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CALGARY, ALBERTA--(Marketwired - July 2, 2014) - Touchstone Exploration Inc. ("Touchstone" or the "Company") (TSX:TXP) is pleased to announce that it has made a $21.6 million principal prepayment of its existing 9.25% senior secured long-term debt facility arranged with Norrep Credit Opportunities Fund, LP ("Norrep"), a fund managed by Crown Capital Partners Inc. With the payment Touchstone has fully repaid the $24.0 million long-term loan entered into on June 29, 2012 and terminated the loan facility two years ahead of its June 29, 2016 maturity date. As a result of this payment, the Company has no outstanding secured debt and is free of the covenants contained in the loan. |
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| Source:http://www.marketwired.com/mw/release.do?id=1926307&sourceType=3 |
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