Mercer to refinance bank debt with newly structured shareholder loan

Tue, 01 Mar 2016

By Paul McBeth March 2 (BusinessDesk) - Mercer Group, the stainless steel fabricator planning to split its businesses in two, will repay bank debt after restructuring a loan with shareholder and director Humphrey Rolleston. Rolleston will provide a $750,000 underwrite on the deferred consideration from Mercer's sale of its interiors unit, and provide a $2.5 million 12-month loan at 12 percent interest, the Auckland-based company said in a statement. That will let Mercer repay $1.5 million to Bank of New Zealand and provide it with workin...

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