MRU secures seventh extension of covenant waiver deadline

By Caroline Salls

Pittsburgh, Nov. 19 - MRU Holdings, Inc.'s 12% senior secured notes covenant waiver deadline was further extended to Nov. 19 from Nov. 18, according to an 8-K filed with the Securities and Exchange Commission.

As previously reported, the noteholders agreed to temporarily waive a covenant related to the amount of the company's debt in relation to payables, which had been amended to require payables not to exceed $11 million on or before Nov. 3 and not to exceed $5 million after Nov. 3.

The latest extension marks the seventh time the original Nov. 3 deadline was pushed back.

MRU is a New York-based provider of student loans.

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