Austral Gold Secures New US$2.2M Related Party Loan Facility [Yahoo! Finance]
Citigroup, Inc. (C)
Last citigroup, inc. earnings: 4/15 08:00 am
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Source: Yahoo! Finance
or the Company) is pleased to announce a new unsecured related party loan facility from Consultores Assets Management S.A. ("Consultores") for up to US$2.2 million and the receipt of US$1 million on 5 March 2024. Consultores is related to Austral's largest shareholder and controlled by its Chair, Eduardo Elsztain. Material terms of the loan agreement: Loan Amount: up to US$2.2 million Loan Term: 6 months; loan may be repaid earlier at the Company's option; Interest Rate: 9% per annum; Use of Proceeds: working capital; Security: the loan is unsecured. The terms and conditions of the loan agreements are standard for facilities of this nature, are unsecured and are, in the view of the non-involved Austral directors, as favorable, if not more so, than if the parties were dealing at arm's length. The cash received under the loan facility has been used for working capital purposes. In addition, the maturity of the following unsecured related party loans, were amended to 30 S
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C
Earnings
- 4/12/24 - Beat
C
Sec Filings
- 4/26/24 - Form 424B2
- 4/26/24 - Form FWP
- 4/26/24 - Form 424B2
- C's page on the SEC website