Since receiving a waiver relating to the minimum production covenant breach of the CBA term loan, the company has been in discussions with CBA and has now agreed to formalize the waiver into an amendment of the loan on substantially the same terms as the waiver. The amendment extends the current maturity of the loan to June 1, 2018, and appoints an investment bank to advise on available options given the uncertainty around the company’s ability to refinance or repay the principal loan balance of $21.25 million when it falls due.
CBA Amends Nighthawk Term Loan
Like this story? Begin each business day with news you need to know! Register now for FREE Daily E-News Broadcast and start YOUR day informed!