Brief: Terrace announces delay in paying interest on oustanding 8% convertible notes
27/01/2016 21:31
Jan 27 (Reuters) - Terrace Energy Corp TZR.V : * Announces delay in paying interest on oustanding 8% convertible notes * Reviewing strategic alternatives to preserve liquidity and its ongoing business and may seek to restructure the terms of the notes * Says interest deferral will result in approximately $800,000 net cash savings for the quarter * Will not be making the January 31, 2016 interest payment on its 8% convertible unsecured notes due 2018 * Source text for Eikon ID:nCNW2p2dDa * Further company coverage TZR.V ((Bengaluru Newsroom; +1 646 223 8780))
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