|
|
Article: NEW WORLD POWER CORP. RECEIVES EXTENSION ON INTEREST PAYMENT ON PRIVATELY PLACED DEBT AS IT DISCUSSES RESTRUCTURING PLANS WITH ITS LENDERS
- Article from:
- PR Newswire
- Article date:
- February 1, 1996
CopyrightCOPYRIGHT 1996 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
LIME ROCK, Conn., Feb. 1 /PRNewswire/ -- The New World Power Corporation (Nasdaq-NNM: NWPC) announced that all holders of its 8% Convertible Subordinated Notes due July 31, 2000 have agreed to extend the initial semi-annual interest payment date on the Notes from January 31, 1996 to February 15, 1996.
During this interim period, the Company and the holders of its outstanding corporate indebtedness intend to continue discussing restructuring its indebtedness and will evaluate the potential sale of certain assets.
There are $15,750,000 of 8% Convertible Notes due July 31, 2000 outstanding. They were issued in a private placement in 1995.
The New World ...