Oct 7 (Reuters) - Urban Communications Inc UBN.V :
* Announces loan agreement to refinance existing debt
* Says entered into a loan agreement with a lender to borrow the principal
amount of $3.1 million
* Says loan is secured by a general security agreement against all the assets
of the company
* Says loan is due and payable in 24 months, bears interest at the rate of 11%
per annum, payable quarterly
* Says proceeds from the loan will be used firstly to redeem approximately $2.7
million of convertible debentures
* Source text for Eikon ID:nMKW682fKa
* Further company coverage UBN.V