Pan Pacific Aggregates secures lower interst mortgage deal
Pan Pacific Aggregates, the British Columbia-based aggregates company, has completed the remortgaging of its Quadling Quarry in the Fraser Valley Regional District, replacing its existing loan that was due to expire on June 30th.
Pan Pacific Aggregates, the British Columbia-based aggregates company, has completed the remortgaging of its Quadling Quarry in the Fraser Valley Regional District, replacing its existing loan that was due to expire on June 30th.
The firm has agreed the terms of a CAN$1.67m with a 24-month repayment period which will be used to fund the old mortgage.
The new loan has an interest rate of 11.5%, compared to 13% on the previous one.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Chairman Lynda Chase-Gardener said: "Following the successful placing last month, the remortgaging of our flagship quarry removes further uncertainty and puts PPA finances on a stronger and longer term footing."
The share price rose 11.11% to 2.50p.
NR
Sign up to Money Morning
Our team, led by award winning editors, is dedicated to delivering you the top news, analysis, and guides to help you manage your money, grow your investments and build wealth.
-
Four AI ETFs to buy
Is now a good time to buy AI ETFs? We examine four AI ETFs that investors might want to add to their portfolio
By Dan McEvoy Published
-
Chase boosts easy-access interest rate - savers could earn 4.75%
Chase is offering a boosted interest rate which is fixed for six months, on top of the standard variable rate
By Jessica Sheldon Published