Brief: Foraco International Announces Binding Term Sheets For A Proposed Refinancing

Foraco International SA

19/05/2021 19:26

May 19 (Reuters) - Foraco International SA  FAR.TO :
    * FORACO INTERNATIONAL ANNOUNCES BINDING TERM SHEETS FOR A
PROPOSED REFINANCING
    * FORACO INTERNATIONAL SA - FINANCIAL REORGANIZATION IS
EXPECTED
TO RESULT IN A REDUCTION IN NET DEBT OF ABOUT US $49.4 MILLION
UPON COMPLETION
    * FORACO INTERNATIONAL - CO, MARATHON ASSET MANAGEMENT
AGREED TO
ENTER INTO SENIOR SECURED BONDS FACILITY BEARING INITIAL
PRINCIPAL AMOUNT OF US $100 MILLION
    * FORACO INTERNATIONAL SA - EXPECTS TO CLOSE SENIOR BONDS
FACILITY
ON OR ABOUT JUNE 30, 2021
    * FORACO INTERNATIONAL SA - SENIOR BONDS FACILITY WILL
MATURE ON
DEC 15, 2025
    * FORACO INTERNATIONAL SA - IN CONNECTION WITH SHARE
ISSUANCE, CO,
SOME PRINCIPALS OF CO, OAKTREE & KARTESIA WILL ENTER INTO
INVESTOR RIGHTS AGREEMENT
    * FORACO INTERNATIONAL - OAKTREE, KARTESIA TO BE GRANTED
SOME
INVESTOR RIGHTS, INCLUDING RIGHT TO JOINTLY NOMINATE 1 PERSON
FOR ELECTION TO CO'S BOARD

Source text for Eikon:  urn:newsml:reuters.com:*:nCNWYlwKLa
Further company coverage:  FAR.TO 

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