An interest rate of 3.7% per annum will apply and the loan will mature in 3 years.
Mooreast Holdings plans to take out a convertible loan of just over $20 million from a fund managed by N PrimePartners Capital.
Under terms of the loan, which is yet definitive, Mooreast will first receive $1 million. The remaining $19.01 million is to be disbursed by the investor within 30 days' notice issued by Mooreast.
