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NAGA Takes a Loan to Repay $6M to Convertible Bond Holders

Hamburg-based NAGA Group (XETRA: N4G) has taken out a loan from an unnamed institutional inverter with a 12-month term to repay its convertible bond investors partially. The company raised $8.2 million in convertible bonds, with an 11 percent coupon, last April and has now negotiated the terms.NAGA Renegotiated Terms of Convertible BondsThe announcement yesterday (Tuesday) came before the maturity of the convertible bonds on October 30. With the amended term, the company will partially repay $6... Read More

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Posted: Oct 25 2023, 05:25

Author Name: financemagnates

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