Home Page News Briefs People Media Telecom Archives About Us GET FREE NEWS UPDATES
Advertising Subscribe Reuse & Permissions
The Hill Times Parliament Now The Lobby Monitor HTCareers

Cygnal in financial dire straights

Briefs | 11/06/2007 3:06 pm EST

Cygnal Technologies Corp. has announced that it is negotiating with one its principal lenders regarding debt owed and continued access to financing from that particular lender under a credit facility due January 2008. The lender has already indicated that it is unwilling to extend the maturity date of the credit facility, unless the company opts to sell certain assets or reduce operations. "Cygnal is engaged in discussions with other parties regarding strategic alternatives, including the refinancing of Cygnal's existing secured debt, the sale of an equity interest in Cygnal and a sale of the entire company, and is reviewing other options," reads a statement.

This content is available to wirereport.ca subscribers

Already a subscriber? Sign in here

Unlock all the Canadian telecom, broadcasting and digital media news you need.

Take a free trial or subscribe to The Wire Report now.


Two weeks free access to thewirereport.ca and our exlusive newsletters.

Register for free

* Required


Unlimited access to thewirereport.ca and our exlusive newsletters.


* Required

Reuse & Permissions

Unauthorized distribution, transmission, reuse or republication of any and all content is strictly prohibited. To discuss re-use of this material, please contact:

Customer Care, 613-688-8821 | subscriptions@hilltimes.com