P.M. BRIEFING : Qantel Arranges Debt Restructure
From Times Wire Services
HAYWARD, Calif. —
Qantel Corp. said today that it signed an agreement with a group of 10 banks to restructure the company’s long-term debt.
First National Bank of Boston is heading the banking group.
The company said the agreement calls for the restructuring of $50 million of debt at a 7% interest rate over 10 years and includes a two-year moratorium on the principal.
