December 14, 2017 / 10:27 PM / 10 months ago

BRIEF-Discovery Air Announces Securities Conversion

Dec 14 (Reuters) - Discovery Air Inc:

* DISCOVERY AIR INC. ANNOUNCES SECURITIES CONVERSION

* DISCOVERY AIR - CLAIRVEST AFFILIATES EXERCISED CONVERSION FEATURE TO CONVERT AMOUNTS OUTSTANDING UNDER CREDIT FACILITIES TO SHARES OF DA DEFENCE

* DISCOVERY AIR - POST COMPLETION OF CONVERSION TRANSACTION, CO TO HAVE ABOUT $60 MILLION LESS OF SECURED DEBT & WILL CONTINUE TO OWN 26% OF DA DEFENCE

* DISCOVERY AIR - CLAIRVEST AFFILIATES EXERCISED SWAP OPTION TO EXCHANGE SENIOR SECURED CONVERTIBLE DEBENTURES OF CO FOR DA DEFENCE SHARES

* DISCOVERY AIR - FUTURE CAPITAL REQUIRED TO FINANCE UPGRADE OF DA DEFENCE’S AIRCRAFT WILL NOT INCREASE DEBT LEVELS AT CO Source text for Eikon: Further company coverage:

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