Scandinavian Oil-Gas Magazine
http://www.scandoil.com/moxie-bm2/financial/money/rooster-energy-completes-subordinated-secured-cred-2.shtmlRooster Energy completes subordinated secured credit facility
Rooster Energy Ltd. announced that effective March 7, 2014, it entered into a secured credit facility (the "Credit Facility")
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Rooster Energy Ltd. announced that effective March 7, 2014, it entered into a secured credit facility (the "Credit Facility") which provides for borrowing up to US $10 Million, to be used for general corporate purposes.
The initial advance under the Credit Facility is US $4.4 Million, net of an original issue discount of 10% for a funded amount equal to US $4 Million. The Credit Facility is fully subordinated to an existing senior secured term loan in the principal amount of US $22.5 million that Rooster entered into as of October 22, 2012 and which matures on October 22, 2014.
