Intermark Makes Interest Payment
Intermark made a $920,000 interest payment to bond holders after expressing some doubt in public filings in August that it would have the working capital to do so.
Intermark made the payments Monday on its 11.875% senior subordinated bonds due 1999. The company said it also expects to make an Oct. 1 payment totaling $362,000 on its 13.2% bonds.
John Stiska, Intermark’s president, said no unusual asset sales or financings were required to raise the cash.