Municipal Mortgage & Equity gets waiver on reporting requirements

By Laura Lutz

Des Moines, March 7 - Municipal Mortgage & Equity, LLC received a waiver of financial reporting covenants under a $100 million revolving loan agreement from Feb. 23, according to an 8-K filing with the Securities and Exchange Commission.

Under the new agreement, the reporting requirements, including those that apply to fiscal years 2007 and 2008, are waived until June 30 as long as the company provides its 2006 audited financial statements and 2006 form 10-K by May 31.

The agreement was among the company, Synovus Bank, which was formerly United Bank and Trust; MMA Capital Corp.; MuniMae TEI Holdings, LLC; MMA Mortgage Investment Corp.; MMA Construction Finance, LLC; MMA Financial Holdings, Inc.; and MMA Financial, Inc.

Municipal Mortgage & Equity is a Baltimore-based provider of debt and equity financing to developers of multifamily and commercial properties.

© 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.