Home Americas BRIEF: New Energy Solar says unit has closed on a $23 mn senior secured term loan with Keybank
BRIEF: New Energy Solar says unit has closed on a $23 mn senior secured term loan with Keybank

BRIEF: New Energy Solar says unit has closed on a $23 mn senior secured term loan with Keybank

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NEW HAS HEDGED UNDERLYING LIBOR RATE FOR FULL DURATION OF LOAN TO FIX INTEREST RATE AT AN AVERAGE OF 4.1%

* UNIT HAS CLOSED ON A US$23 MILLION SENIOR SECURED TERM LOAN WITH KEYBANK N.A AND $1.6 MILLION OF ASSOCIATED CREDIT SUPPORT

* NEW HAS HEDGED UNDERLYING LIBOR RATE FOR FULL DURATION OF LOAN TO FIX INTEREST RATE AT AN AVERAGE OF 4.1%

* PROCEEDS TO REPAY CO’S US$ CORPORATE REVOLVING CREDIT FACILITY AND IMPROVE COST, TENOR, DIVERSITY OF CO’S CAPITAL STRUCTURE

Source: reuters

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Anand Gupta Editor - EQ Int'l Media Network