Brief: Mountain Province Diamonds Obtains Waiver Under Revolving Credit Facility

Mountain Province Diamonds

14/07/2020 01:31

July 13 (Reuters) - Mountain Province Diamonds Inc
 MPVD.TO :
    * MOUNTAIN PROVINCE DIAMONDS OBTAINS WAIVER UNDER REVOLVING
CREDIT
FACILITY
    * MOUNTAIN PROVINCE -  WAIVER EXEMPTS CO FROM COMPLIANCE
WITH
FINANCIAL COVENANTS THAT IT WOULD OTHERWISE HAVE HAD TO SATISFY
AS OF JUNE 30
    * MOUNTAIN PROVINCE DIAMONDS INC - WAIVER REMOVES BORROWER'S
COVENANT TO MAINTAIN A MINIMUM CASH BALANCE
    * MOUNTAIN PROVINCE DIAMONDS INC - AGREED TO A REDUCTION IN
SIZE
OF REVOLVING CREDIT FACILITY TO US$25 MILLION FROM US$50 MILLION
    * MOUNTAIN PROVINCE DIAMONDS INC -  AGREED TO IMPOSITION OF
ADDITIONAL COVENANTS
    * MOUNTAIN PROVINCE DIAMONDS - CONTINUES NEGOTIATIONS WITH
MAJOR
SHAREHOLDER, OTHER FINANCIAL INSTITUTIONS TO SECURE ADDITIONAL
DEBT FACILITIES

Source text for Eikon:  ID:nPrenQM3ya 
Further company coverage:  MPVD.TO 

 ((Reuters Messaging: Reuters.Briefs@thomsonreuters.com))