FREE MEMBERSHIP Includes » ABL Advisor eNews + iData Blasts | JOIN NOW ABLAdvisor Gray ABLAdvisor Blue
Skip Navigation LinksHome / News / Read News


Ascendant Resources Closes $5MM Revolver with Banco Financiera Comercial Hondurena

August 27, 2018, 08:00 AM
Filed Under: Retail

Ascendant Resources Inc. announced its wholly owned subsidiary, American Pacific Honduras S.A. de C.V closed a US$5 million short-term revolving credit facility with Banco Financiera Comercial Hondurena S.A. (“Ficohsa”) based out of Tegucigalpa, Honduras.

The credit facility has a 12-month term from the closing date, bears interest at a rate of 8-13%, depending on currency drawn down, and is renewable on an annual basis. The facility will be used for working capital and other general corporate purposes. The credit facility is secured by a pledge of the Company’s real estate assets at the port of Puerto Cortés, Honduras as well as a corporate guarantee.

“This facility strongly supports Ascendant’s liquidity and greatly eases cash management and inventory control for the Company.” Stated Chris Buncic, President & CEO of Ascendant. He continued, “We look forward to a strong and fruitful relationship with our friends at Ficohsa as we continue to grow our operations.”


Comments From Our Members

You must be an ABL Advisor member to post comments. Login or Join Now.