Razor Energy Announces Deferral of Interest Payment

Source: www.gulfoilandgas.com 12/31/2020, Location: North America

Razor Energy Corp. will be deferring the scheduled December 31, 2020 interest payment to the Alberta Investment Management Corporation (“AIMCo”) under the existing $47.7 million Term Loan Facility. The interest will be capitalized, adding to the principal of the existing Amended Term Loan Facility.

The Amended Term Loan Facility matures on January 31, 2021 and bears an interest rate of 10% per annum. The Amended Term Loan Facility is secured by 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.

The Company is grateful to be partners with AIMCo and the continued support as both a major shareholder and senior lender.


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