02:25 PM EDT, 07/05/2018 (MT Newswires) -- Alio Gold (ALO), a Canadian miner that operates in Mexico restructured its existing debt facility of $15 million with Macquarie Bank that was scheduled to be repaid in December.

The company said in a statement the outstanding principal of $15 million will be repaid from Sept. 30, in twelve quarterly payments of $1.25 million with accrued interest, ending in June 2021.

The facility has an interest rate of LIBOR + 8% and is secured by a general security agreement and guarantee by the Vancouver, Canada-based company.

"The restructuring provides us with the financial flexibility to focus on operational efficiencies to reduce costs," CEO Greg McCunn said in the statement.

Shares were last up almost 5%.

Price: 1.54, Change: +0.07, Percent Change: +4.76