BRIEF-Bri-Chem Corp announces renewal of credit facilities

Wed Aug 17, 2016 12:37pm EDT
 
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Aug 17 (Reuters) - Bri-chem Corp :

* Bri-Chem announces renewal of credit facilities

* To renew its senior credit facilities with a borrowing base of $20 million, down from $40 million

* Says has now reduced its senior operating debt down from $54 million to $10 million as at June 30, 2016

* Credit facilities are now committed until August 12, 2017

* Amended certain terms of its subordinated debenture agreement, in conjunction with amendment to ABL facility

* In accordance with amendment, will defer 4 quarterly principal payments due on Sept 30, 2016, Dec 31, 2016, March 31, 2017 and June 30, 2017 Source text for Eikon: Further company coverage: