| Home : July 2012 : July 05, 2012 News : ZoomerMedia Limited Announces Re-Financing of Debt Facilities |
ZoomerMedia Limited Announces Re-Financing of Debt Facilities |
July 05, 2012
TORONTO, ONTARIO--(Marketwire - July 4, 2012) - ZoomerMedia Limited (the "Company" or "ZoomerMedia") (TSX VENTURE:ZUM) is pleased to announce it has closed a $17 million debt financing arrangement with Royal Bank of Canada ("RBC").
The debt financing is made up of a $7 million mortgage on the Company's property (held in its wholly-owned subsidiary) located on Jefferson Avenue in Toronto and a $7 million term loan and $3 million operating facility secured by a charge over the assets of the Company including the Jefferson Avenue property. The $7 million term loan and $3 million operating facility represent an amendment to a $10 million operating facility that was arranged with RBC in November 2010. The $7 million mortgage replaces a previous mortgage managed by First National Financial LLP ("First National Mortgage"). The $7 million term loan and the $7 million mortgage have an amortization period of 25 years, interest rate of 6.297% per annum and a term of 3 years. Amounts drawn under the $3 million operating facility will bear interest at RBC prime plus 2% per annum.
http://www.marketwire.com/mw/release.do?id=1676700&sourceType=3
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