![BRIEF: New Energy Solar says unit has closed on a $23 mn senior secured term loan with Keybank](https://www.eqmagpro.com/wp-content/uploads/2019/05/New-Energy-Solar-says-unit-has-closed-on-a-23-mn-senior-secured-term-loan-with-Keybank.jpg)
BRIEF: New Energy Solar says unit has closed on a $23 mn senior secured term loan with Keybank
11
0
NEW HAS HEDGED UNDERLYING LIBOR RATE FOR FULL DURATION OF LOAN TO FIX INTEREST RATE AT AN AVERAGE OF 4.1%
* UNIT HAS CLOSED ON A US$23 MILLION SENIOR SECURED TERM LOAN WITH KEYBANK N.A AND $1.6 MILLION OF ASSOCIATED CREDIT SUPPORT
* NEW HAS HEDGED UNDERLYING LIBOR RATE FOR FULL DURATION OF LOAN TO FIX INTEREST RATE AT AN AVERAGE OF 4.1%
* PROCEEDS TO REPAY CO’S US$ CORPORATE REVOLVING CREDIT FACILITY AND IMPROVE COST, TENOR, DIVERSITY OF CO’S CAPITAL STRUCTURE