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BRIEF-Banro Exercises Contractual Right To Defer Interest Payment On Secured Notes
December 1, 2017 / 11:45 AM / 13 days ago

BRIEF-Banro Exercises Contractual Right To Defer Interest Payment On Secured Notes

Dec 1 (Reuters) - Banro Corp:

* BANRO ANNOUNCES EXERCISE OF CONTRACTUAL RIGHT TO DEFER INTEREST PAYMENT ON SECURED NOTES

* BANRO-UNDER TERMS OF INDENTURE GOVERNING 10% SECURED NOTES DUE 2021, ELECTED TO DEFER PAYMENT OF ABOUT US$4.94 MILLION INTEREST PAYMENT DUE ON DEC 1, 2017​

* BANRO-‍NO “EVENT OF DEFAULT” TO OCCUR UNDER OTHER MATERIAL DEBT OBLIGATIONS OF CO, UNITS AS A RESULT OF INTEREST NOT BEING PAID ON DEC 1, 2017​

* BANRO - TO UTILIZE GRACE PERIOD TO CONTINUE DISCUSSIONS WITH MAJOR STAKEHOLDERS CONCERNING POSSIBLE RESTRUCTURING OF CO‘S NON-DRC DEBT OBLIGATIONS​

* BANRO-TO ALSO UTILIZE GRACE PERIOD TO CONTINUE DISCUSSIONS WITH STAKEHOLDERS CONCERNING PROVISION OF FINANCING TO SUPPORT CO‘S ONGOING OPERATIONS IN DRC​ Source text for Eikon: Further company coverage:

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