Archive for October 23rd, 2006
When they say no covenants
23 October 2006I saw a press release yesterday relating to a company that had received a “default and demand” letter from its U.S.-based Venture Debt lender, Hercules Technology Growth Capital. According to the company’s release, the letter had been issued as a result of “material adverse effects”; in essence, the company appeared to miss its internal [...]