VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 03/19/13 -- Tree Island Steel Ltd. (TSX: TSL)(TSX: TSL.DB) (the "Company") announces an interest payment of $2.4658 on each $100 principal amount of its outstanding 10% second lien convertible debentures (TSL.DB) due November 26, 2014 (the "Debentures"), in respect of the period January 1, 2013 to March 31, 2013. Debenture holders of record as at March 31, 2013 will be entitled to such payments on April 30, 2013. Payment of interest in cash on April 30, 2013 is subject to: (i) the Company's ability to elect, under certain circumstances, to defer cash interest payments or pay such interest in additional Debentures in accordance with the trust indenture dated November 26, 2009 between the Company and Valiant Trust Company, as Debenture Trustee; and (ii) prohibitions on cash interest payments under certain circumstances described in the subordination and intercreditor agreement dated March 25, 2010, among the Company, certain of its affiliates, its senior lenders and the Debenture Trustee, both of which are available on SEDAR at www.sedar.com.
Tree Island Steel Ltd.
Chief Financial Officer
Most Popular Stories
- Clinton to Keynote Annual Simmons Leadership Conference
- Selena Gomez, Shakira Among Top Hispanic Searches
- How to Survive a Subzero Stranding
- GM to Stop Making Autos in Australia
- It's Primary Time in Texas
- PhD Project Grooms Business Profs
- Bipartisan Budget Deal Gets Key Support in House
- N.M. Dems Say Nonprofit Helping Martinez Campaign
- Deficit Shrinks, Hiring Grows as Economy Improves
- Budget Deal Raises Deficit $41 Billion: CBO