E-mail us: service@prospectnews.com Or call: 212 374 2800
Bank Loans - CLOs - Convertibles - Distressed Debt - Emerging Markets
Green Finance - High Yield - Investment Grade - Liability Management
Preferreds - Private Placements - Structured Products
 
Published on 10/31/2013 in the Prospect News PIPE Daily.

North American Tungsten extends $6.7 million notes' payment due dates

Holders enter forbearance agreement with company

By Angela McDaniels

Tacoma, Wash., Oct. 31 - North American Tungsten Corp. Ltd. extended the payment date to Dec. 31, 2013 for some of its debt obligations otherwise due at the end of October, according to a company news release.

The company entered into a forbearance agreement on Oct. 29 with holders of $2.7 million of convertible debentures which had a maturity date of Oct. 29, 2013. The convertibles will continue to bear interest at 10% per year.

The company also entered into a forbearance agreement on Oct. 31 with Queenwood Capital Partners II LLC for a $4 million promissory note that had a maturity of Oct. 31, 2013.

The company is based in Vancouver, B.C., and mines for tungsten.


© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.