10:38 AM EST - Westport Fuel Systems Inc. : Has entered into an agreement for the refinancing of its convertible notes held by funds associated with Pangaea Two Management, LP and Cartesian Capital Group. Under the terms of the agreement, the Company has agreed to pay down the principal amount of the existing convertible notes from $17.5 million U.S. to $10 million U.S. Concurrent with such repayment, the maturity of the remaining amended notes will be extended to three years from the date of the amendments, the coupon rate will be reduced from 9% annually to 6.5% annually, and the conversion price will be revised from $2.17 U.S. per share to $1.42 U.S. per share. Westport Fuel Systems Inc.
shares T.WPRT are trading up $0.03 at $1.86.
