Centurion Repays Convertible Notes.Business Editors CALGARY, Alberta--(BUSINESS WIRE)--April 13, 2000 Centurion Energy International Inc. (the "Corporation") (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :CUX CUX Corporate University Xchange (provides education research, benchmarking and advisory services to corporate America) .) announces that it has repaid a total of US$1.6 million of the outstanding US$2.7 million, 8% convertible notes (the "Notes"), previously issued by the Corporation on March 27, 1998. The remaining US$1.1 million, held by insiders of the Corporation, will be extended to September 30, 2000, at which time the balance of the principal and accrued interest Accrued Interest The interest that has accumulated on a bond since the last interest payment up to but not including the settlement date. There are two methods for calculating accrued interest: 1) 360-day year method, used for corporate and municipal bonds. over the extension period will be due. The conversion price of US$0.52 and the interest rate of 8% per annum Per annum Yearly. remain unchanged for the extended term of the Notes. Accrued interest on the principal balance of all of the Notes (whether repaid or extended) has been paid up to and including March 26, 2000. The remaining US$1.1 million of the debenture debenture (dəbĕn`chər), document acknowledging indebtedness. In Great Britain a debenture is practically the same as a bond, and debenture stock is similar to preferred stock. is the only debt outstanding. The cash that was dedicated to repay this portion of the debenture will now supplement working capital. |
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