Flint to pay interest on 8% debentures in kind on Dec. 31

By Wendy Van Sickle

Columbus, Ohio, Dec. 18 – Flint Corp. said it will issue C$5,004,994 of its additional 8% senior secured debentures due March 23, 2026 as a payment in kind for the interest due on Dec. 31, according to a news release.

The debentures will be issued to Canso Investment Counsel Ltd., the sole holder of the notes, and will bring the principal amount outstanding to C$130.1 million.

The payment in kind will allow Flint to retain cash to fund its ongoing operations and strengthen its financial situation, as well as to maintain compliance with its asset-based revolving credit facility, the company said.

Based in Calgary, Alta., Flint provides solutions for the energy and industrial markets. The company was previously known as ClearStream Energy Services Inc.

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