Advantex has debentureholder OK for interest deferral

Executive Summary

• Advantex Marketing International Inc. has secured approval from debenture holders to defer interest payments due in March 2026 and reset financial covenants for the quarters ending March 31, 2026, and June 30, 2026.
• The amendment applies to 9% senior secured non-convertible debentures with an aggregate principal amount of $7,759,000 maturing on December 31, 2025.
• Deferred interest will be consolidated and paid in a single installment alongside regularly scheduled interest payments over the remaining term of the debentures.

Key Details

• Instrument Type: 9% senior secured non-convertible debentures
• Aggregate Principal Amount: $7,759,000
• Maturity Date: December 31, 2025
• Interest Deferral: Interest originally due in March 2026 is deferred
• Repayment Structure: Deferred interest will be paid in one lump sum along with regularly scheduled interest payments over the remaining debenture term
• Covenant Adjustment: Financial covenants reset for the quarters ending March 31, 2026, and June 30, 2026
• Approval Status: Requisite approval obtained from debenture holders

Notable Quotes

• None provided in the release.