NetworkNewsBreaks – Zenergy Brands, Inc. (ZNGY) Receives $1.6M in the First Tranche of $10M Debenture Facility
Jan 15, 2019
Zenergy Brands (OTC: ZNGY) this morning announced the close of a $10 million debenture facility with TCA Global Credit Master Fund, LP (“TCA”), a fund specializing in senior, secured lending and advisory services. The company has completed several months of due diligence following the execution of the initial Term Sheet on August 29, 2018, and reports the closing of this transaction, effective December 26, 2018. Per the update, TCA has provided Zenergy with the initial tranche of $1.6 million and will fund additional tranches up to $10 million as the company secures new revenue-generating contracts. Zenergy anticipates several new contracts during the first half of 2019 and plans to use the debenture facility to achieve its duties under these Managed Energy Services Agreements. Per the terms of the transaction, ZNGY will make interest-only payments for the first six months and more significant balloon-style payments for the last six months. The respective payments are due in monthly installments beginning on January 26, 2019 and ending on June 26, 2021. “This is a monumental step in our lifecycle – we’ve got a truly innovative market-relevant offering in the Zero Cost Program. We believe that this debenture facility can allow us to grow the program effectively throughout 2019. I definitely view this event as the closing of one chapter and the opening of a new one for Zenergy,” Zenergy CEO Alex Rodriguez stated in the news release.
To view the full press release, visit http://nnw.fm/Xr8v5
About Zenergy Brands, Inc.
Zenergy Brands, Inc. is a next-generation energy and technology company operating in the emerging smart energy/utility industry. The company provides energy conservation, smart controls, and efficiency-based products and services as a fully integrated energy company and Retail Electric Provider (“REP”). Zenergy is a public company, fully reporting to the SEC and currently trading on the OTCPK, a venture market designed for early stage and developing U.S. and international companies. To learn more, visit www.ZenergyBrands.com or www.WhatIsZenergy.com and follow the company on the following social networks: Facebook: Zenergy Brands, Twitter: @ZenergyBrands, Instagram: @ZenergyBrands and YouTube: Zenergy Brands.
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