Metgasco Ltd Secures A$500,000 Debt Bridging Facility
Key points
- Metgasco Ltd secures A$500,000 bridging loan from Glennon Small Companies Limited
- Interest rate set at 10% per annum
- Loan intended for short-term capital and general working capital
- Loan contingent on restructuring Metgasco's debt stack
Full summary
Metgasco Ltd has announced it has secured a debt bridging facility of A$500,000 from Glennon Small Companies Limited at an interest rate of 10% per annum. The facility is intended to address Metgasco's immediate capital requirements and general working capital needs until the company can restructure its debt stack. The bridging loan is a key condition for the advance of the facility.
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