March 31 (Reuters) - Rutter Inc:
* Announces restructuring of its debt and closing of sale of Controls &
Automation division
* Says will reduce principal amounts outstanding on term loans to $21.4 million
from $42.3 million
* Says previous defaults under lending agreement have also been waived and new
covenants established
* Says 4 million warrants issued at $0.65 in June 2007 cancelled as part of
restructuring
* Says reduced interest costs to 10% and 12% from 14% and 18%, including
default interest
((Bangalore Equities Newsroom; +91 80 4135 5800; within U.S. +1 646 223 8780))
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* Announces restructuring of its debt and closing of sale of Controls &
Automation division
* Says will reduce principal amounts outstanding on term loans to $21.4 million
from $42.3 million
* Says previous defaults under lending agreement have also been waived and new
covenants established
* Says 4 million warrants issued at $0.65 in June 2007 cancelled as part of
restructuring
* Says reduced interest costs to 10% and 12% from 14% and 18%, including
default interest
((Bangalore Equities Newsroom; +91 80 4135 5800; within U.S. +1 646 223 8780))
(For more news, please click here) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.