logo-loader
viewTissue Regenix Group PLC

Tissue Regenix optimistic about MidCap covenant talks

“These discussions are progressing well and the board is optimistic of being able to agree a solution with MidCap Financial"

Tissue Regenix Group PLC -
Covenants are the conditions on which loan finance is granted and are tested periodically

Tissue Regenix Group PLC (LON:TRX) said it is in talks regarding the financial covenants on a term loan and revolving credit facility from MidCap Financial Trust.

Covenants are the conditions on which loan finance is granted and are tested periodically.

Tissue said it is “proactively engaged” in negotiations over a revenue test, which it looks likely to fail.

“These discussions are progressing well and the board is optimistic of being able to agree a solution with MidCap Financial,” the regenerative medicines specialist said.

As of last Friday (November 8), the company had drawn US$7.5mln of the term loan and US$600,000 of the revolving credit facility. The cash balance as of the end of last month was US$9.3mln.

Quick facts: Tissue Regenix Group PLC

Price: 1.275 GBX

AIM:TRX
Market: AIM
Market Cap: £14.94 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Tissue Regenix Group PLC named herein, including the promotion by the Company of Tissue Regenix Group PLC in any Content on the Site, the...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Tissue Regenix increasing throughput in its facility to meet 'exceptional...

Tissue Regenix PLC's (LON:TRX) Gareth Jones caught up with Proactive's Andrew Scott to update on developments in the regenerative medical devices maker's second half. ''The focus is really on increasing throughput in our San Antonia facility in the United States to allow us to meet the demand...

on 19/12/19

2 min read