Brief: Craven House Capital Says Unit Entered Into Loan Agreement With LM Funding America Inc

Craven House Capital

03/01/2020 07:19

Jan 3 (Reuters) -    Craven House Capital PLC  CRV.L :
    * SAYS UNIT, CRAVEN HOUSE CAPITAL NORTH AMERICA LLC HAS
ENTERED
INTO A LOAN AGREEMENT WITH LM FUNDING AMERICA INC
    * UNDER TERMS OF LOAN AGREEMENT CRVNA WILL BORROW $1.5
MILLION
FROM LMFA
    * PROCEEDS WILL PROVIDE LIQUIDITY FOR INVESTMENT PURPOSES IN
ADVANCE OF REPAYMENT OF $3.6M CONVERTIBLE LOAN DUE FROM LMFA TO
CRVNA
    * CRVNA HAVE AGREED TO EXTEND MATURITY DATE OF CRVNA LOAN
FROM
JANUARY 16, 2020 TO APRIL 15, 2021
    * LMFA LOAN IS REPAYABLE ON APRIL 15, 2020 WITH INTEREST
PAYABLE
AT A RATE OF 6% P.A.


    Source text for Eikon:  ID:nRSC6213Ya 
    Further company coverage:  CRV.L 

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