Business
LOI WITH MACQUARIE
LOI WITH MACQUARIE
About this update from Bell Copper Corporation
[{"type":"text","content":"\n\n\n\n Oct. 7, 2010 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n\n TSX-V Symbol: BCU\n \n\n VANCOUVER, Oct 7 /CNW Telbec/ - Bell Copper Corporation ("Bell Copper"\n or the "Company") (TSX-V Symbol: BCU) is pleased to announce that the\n Company has executed a letter of intent ("LOI") with Macquarie Bank\n Limited ("Macquarie") for the restructuring of all of its existing\n indebtedness to Macquarie. \n \n\n The restructuring of these debts through a combination of immediate and\n staged repayments, conversions to equity and production royalties, along\n with reduced interest rates and multi-year extensions, will position the\n Company to advance its portfolio of exploration and development-stage\n copper projects.  The Company intends to continue to implement the\n previously announced SpinCo Transaction following the repayment of the\n Bell Copper Demand Debenture as described below.\n \n\n Highlights of the Restructuring: \n \n\n\n\n Existing Indebtedness\n \n\n Restructuring\n \n\n\n\n  \n \n\n  \n \n\n\n\n Bell Copper Demand Debenture\n \n\n Repaid in Cash by Jan 31 2011\n \n\n\n\n Rogue RiverConvertible Debenture 1\n \n\n Converts to La Balsa NSR and Equity orrepaid in Cash at Bell's\n Option\n \n\n\n\n Rogue River ConvertibleDebenture 2\n \n\n Repriced and repayment date extended toJan 31 2013\n \n\n\n\n Bell Copper Demand Debenture\n \n\n On August 29, 2007, the Company entered into a demand debenture with\n...