- Avante Logixx (XX) has executed agreements in respect to a $10 million unsecured subordinated term loan facility maturing in 2027
- The term loan permits Avante to borrow up to $10 million until July 7, 2027 at an annual rate of 5 per cent
- Funds may be used for working capital, general corporate purposes
- Avante Logixx is a Toronto-based provider of high-end security services
- Avante Logixx Inc. (XX) ended the day up 4.23 per cent, trading at C$0.74 per share
Avante Logixx (XX) has executed agreements in respect to a $10 million unsecured subordinated term loan facility maturing in 2027.
The agreement is with Hamblin Watsa Investment Counsel Ltd., in its capacity as investment manager of Fairfax Financial Holdings Limited.
The term loan permits Avante to borrow up to $10 million until July 7, 2027 at an interest rate of 5 per cent that can be paid in cash or in kind.
Funds may be used for working capital, general corporate purposes and each drawing shall be in minimum increments of $1 million and may be repaid at any time without penalty.
A standby fee of 0.5 per cent is charged by Fairfax on the unused portion of the term loan facility, payable annually in arrears.
Avante Logixx is a Toronto-based provider of high-end security services.
Avante Logixx Inc. (XX) ended the day up 4.23 per cent, trading at C$0.74 per share.