Newport Partners Income Fund (TSX: NPF.UN) has announced that an amendment to the forbearance agreement was entered into on February 18, 2010 with the syndicate of lenders under the Senior Credit Agreement between the Lenders and various Fund’s subsidiaries.
Top Best Penny Stocks, a leading financial publication, is pleased to alert investors of stocks on the move. Sign up for our Free Stock Newsletter.
Under the terms of the Second Amendment, the requirement to repay $35 million by February 28, 2010 was amended to an amount of $18.5 million. That amount was repaid on February 18, 2010 along with a rescheduling fee of $1.5 million. The balance owing of $132 million is to be repaid by July 21, 2010, and the fund is pursuing asset sales and subsidiary debt refinancings to satisfy the obligations. Since July 21, 2009 $118.5 million has been repaid to the lenders.
Newport Partners Income Fund is an unincorporated, open-ended trust created to hold, through its investment in Newport Partners Commercial Trust, interests in Newport Private Yield LP, a limited partnership established under the laws of the Province of Ontario. NPF began trading on the TSX on August 8, 2005 under the symbol NPF.UN.
Sign up for Top Best Penny Stocks' free newsletter. To subscribe, enter your e-mail address into the frame at the bottom of this press release or visit our website.
Follow us on Twitter: http://www.Twitter.com/topbestps
About Us
Top Best Penny Stocks is a leading stock web site that allows investors and interested parties to research stocks that are on the move. We also track small cap companies that are on the brink of a financial breakout. To feature a company on our web site please contact us at the email listed below.
Please click here to read the full disclaimer.
