trending Market Intelligence /marketintelligence/en/news-insights/trending/XijzHAcUaJiCX3H1dw2jsA2 content esgSubNav
In This List

NexgenRx restructures debt, partially repays loan

Blog

Anticipate the Unknown: Does Supply Chain Disruption Lead to Increased Credit Risk?

Blog

Data Stories: Data insights to help alleviate business complexity amid geopolitical risks

Blog

Expand Your Perspective: Data & Distribution Q&A

Podcast

Street Talk | Episode 90: Banks should not wait on the Fed to put cash to work


NexgenRx restructures debt, partially repays loan

NexgenRx Inc. repaid C$1.25 million of a C$1.75 million secured loan obtained from an "arm's length shareholder" in connection with the company's acquisitions announced in July 2018.

The lender agreed to amend and extend its secured loan for the remaining C$500,000, with the interest rate being 6% payable over 24 months to maturity on Aug. 31, 2021.

The repayment was funded through cash on hand and unsecured loans from three insiders, namely CEO Ron Loucks and two arms-length shareholders. The unsecured loans bear 8% interest per annum and are payable quarterly. The loans mature Oct. 15, 2020.