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Entertainment Rewards Cuts $2.81M Annual Interest with Loan Amendment
11:44am on Tuesday 28th of January, 2025 AEDT
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Entertainment
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Entertainment Rewards Cuts $2.81M Annual Interest with Loan Amendment
11:44am on Tuesday 28th of January, 2025 AEDT
Key Points
Convertible loan interest rate reduced from 12.5% to 0%
Repayment and conversion date extended by one year to December 2026
Debt reclassified as equity on the balance sheet
Annual interest savings of $2.81 million
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