Bondholders Defer Perceptronics Payment
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Perceptronics Inc., a Woodland Hills maker of simulators and other training equipment for defense and commercial markets, said that holders of its convertible subordinated debentures have agreed to defer a $1.7 million payment due on Nov. 2 until Nov. 9.
The company previously announced that it expects to report a substantial loss for its fiscal second quarter that ended Sept. 30. It said its financial adviser, Seidler Amdec Securities Inc., is continuing negotiations with the bondholders to restructure Perceptronics’ long-term debt.
Perceptronics’ current long-term debt consists of $8.3 million in convertible subordinated debentures. These bonds carry an annual interest rate of 8.125% and are due in 1996.
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