Iofina restructures loan notes and term facility worth around $25.6m

Writer, Stock Market Wire
Tuesday, February 12, 2019 - 14:55

Iodine and speciality chemical derivative producer Iofina said it had signed a preliminary agreement to restructure convertible loan notes and also a term loan facility, worth a combined $25.6m.

With the loan notes, the repayment term would be extended to 1 July 2020, with the interest rate adjusted to 7.5% beginning 1 January 2019.

With the facility, provided by Stena Investment, the repayment term would be extended to to 1 July 2020, with the interest rate adjusted to 7.5% beginning 1 January 2019, rising to 12% on 1 June 2019.

The restructuring was subject to finalised documentation and would be completed as soon as practical.

'The group is now better positioned to build upon last year's improved performance with increased profitability for 2019 and beyond,' Iofina said.

At 2:55pm: (LON:IOF) Iofina PLC share price was -0.3p at 17.43p


Related content

Iofina downgrades iodine output guidance following cold winter weather

Iodine producer Iofina downgraded its first-half production guidance, after cold winter weather in Oklahoma hampered processing.

The company said it expected to miss its first-half...

Wed, 17/04/2019 - 14:00


Iofina finalises debt restructure

Iofina said it had concluded its debt restructure allowing the company to continue with its growth strategy.

The debt restructure documentation was finalised with the...

Mon, 01/04/2019 - 09:00


Iofina says 'strong' performance from new plant drives output to record in Q3

Iofina said Wednesday it had produced the largest quarterly total of crystalline iodine in the third quarter of the year following a 'strong' performance at...

Wed, 10/10/2018 - 09:01


Broker Forecast - finnCap issues a broker note on Iofina PLC

finnCap today reaffirms its corporate investment rating on Iofina PLC (LON:IOF) and set its price target at 35p.

Broker Forecasts data provided by www.sharesmagazine.co.uk...

Mon, 30/04/2018 - 09:00


Iofina losses widen following $5.3m impairment charge

Iodine producer Iofina losses before taxes widen in the year to the end of December weighed by lower iodine prices and hefty costs associated with...

Mon, 30/04/2018 - 07:35