Razor Energy defers interest payment to Aimco on C$50.1 million loan

Chicago, June 30 – Razor Energy Corp. announced that it will defer the scheduled June 30 interest payment to the Alberta Investment Management Corp. under the existing C$50.1 million term loan facility, according to a press release.

The interest will be capitalized, adding to the principal of the existing amended term loan facility.

The amended facility matures on Jan. 31, 2024 and has a 10% interest rate.

Security is a first charge on all present and after-acquired personal property as well as a floating charge on land pursuant to a general security agreement and a promissory note.

Razor is a publicly-traded junior oil and gas development and production company with headquarters in Calgary, Alta.

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