Advanced Engine to revise terms of financing facility, convertibles

By Devika Patel

Knoxville, Tenn., Jan. 4 - Advanced Engine Components Ltd. said it will renegotiate a payment schedule for the financing facility and convertible notes held by 698 Capital Asia Pacific Ltd., which were due Dec. 31.

There is about $7.1 million owed under the facility and notes, which includes interest.

The new terms will be finalized by Jan. 31.

Based in Malaga, Western Australia, Advanced Engine develops electronic fuel-inject and engine management technologies.

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