Brief: Bri-Chem Corp announces renewal of credit facilities
17/08/2016 17:20
Aug 17 (Reuters) - Bri-chem Corp BRY.TO :
* Bri-Chem announces renewal of credit facilities
* To renew its senior credit facilities with a borrowing
base of $20 million, down from $40 million
* Says has now reduced its senior operating debt down from
$54 million to $10 million as at June 30, 2016
* Credit facilities are now committed until August 12, 2017
* Amended certain terms of its subordinated debenture
agreement, in conjunction with amendment to ABL facility
* In accordance with amendment, will defer 4 quarterly
principal payments due on Sept 30, 2016, Dec 31, 2016, March 31,
2017 and June 30, 2017
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