Entrust Financial Services Inc., Denver, has announced a restructuring of a $2 million convertible promissory note.Entrust said the company and the noteholder agreed to amend and restate the terms of the note, which will bear interest at a rate of 12%. Its maturity date has been extended to May 1, 2006, and uncured events of default have been waived, Entrust said. Jeff Rudolph, the company's executive vice president and chief financial officer, said Entrust will reduce its annual interest charge by $640,000 per year as a result of the restructured debt. The company can be found online at http://www.entrustfs.com.
Processing Content
