EQTEC makes partial repayment of five-year loan facility
Source - SMW
EQTEC has made a partial repayment of £378,882 on its secured loan facility, which comprises a five-year term loan of £1,000,000 at 15% per annum fixed rate of interest, with Ecofinance GLI Limited.
The SLF, commencing in 2015, was repayable in full in July 2020.
EQTEC said that with the agreement of Ecofinance, the company had decided to repay £378,882 of capital and £2,958 in accrued interest to Ecofinance, earlier than scheduled, in order to reduce the cost of debt to the ggroup. The remaining balance of £621,118 is repayable in July 2020.
At 9:15am: (LON:EQT) Eqtec Plc Ord Eur0.001 share price was +0.2p at 2.7p