Brief: Local says raised working capital by about $3 mln, extended convertible debt maturities
10/03/2015 20:45
March 10 (Reuters) - Local Corporation LOCM.O : * Increases working capital by approximately $3.0 million and extends convertible debt maturities * On March 9, 2015, co entered into a securities purchase agreement relating to the sale and issuance of senior convertible notes * Entered into $10 million secured accounts receivable financing agreement with Fast Pay Partners Llc that matures in April 2016 * Financing agreement with Fast Pay Partners is expected to replace company's senior secured facility with Square 1 Bank * Source text for Eikon ID:nBw7RgNyJa * Further company coverage LOCM.O ((Bengaluru Newsroom; +1 646 223 8780))