Metgasco Secures US$323.5K Bridging Loan from Glennon Small Companies
What's the deal? Metgasco Limited (ASX:MEL), a Perth-based energy company, has accepted a US$323.5K bridging loan from Glennon Small Companies Limited. The facility carries a 10% annual interest rate and will fund short-term capital needs and general working capital while Metgasco works to restructure its broader debt stack.
Why now? The company needs immediate liquidity to keep operating while it reorganises its finances. The bridging facility is explicitly a stopgap — progressing the larger debt restructuring that Metgasco has been working through.
- Amount: US$323.5K
- Type: Secured bridging (debt) facility
- Interest rate: 10% per annum
- Lender: Glennon Small Companies Limited
- Purpose: Short-term working capital and general corporate purposes
