Metis Energy's (SGX:L02) Vietrof RE, a wholly owned subsidiary, breached a financial covenant as stipulated in the loan agreement with a private Swiss fund, as of Dec. 31, 2024, according to a Sunday filing with the Singapore Exchange.
The lender has agreed not to seek early repayment of the loans while the payment terms remain unchanged.
The outstanding loan amount is around $11.3 million and the subsidiary is working to remedy the breach.
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