Brief: Reservoir Media Inc Says, On Dec 16, Co's Unit Entered Into Amendment To Fourth Amended And Restated Credit Agreement, Dated As Of July 28, 2021 - Filing

Reservoir Media

20/12/2022 22:09

Dec 20 (Reuters) - Reservoir Media Inc  RSVR.O :
    * RESERVOIR MEDIA INC - ON DEC 16, CO'S UNIT ENTERED INTO
AMENDMENT TO FOURTH AMENDED AND RESTATED CREDIT AGREEMENT, DATED
AS OF JULY 28, 2021
    * RESERVOIR MEDIA INC -  PURSUANT TO  AMENDMENT, INCREASE
THE
REVOLVING CREDIT COMMITMENT FROM US$350MLN TO US$450 MILLION
    * RESERVOIR MEDIA -  PURSUANT TO  AMENDMENT, INCREASE
INCREMENTAL
BORROWING AVAILABLE UNDER FACILITY’S ACCORDION FEATURE FROM
US$50 MILLION TO US$150 MILLION
    * RESERVOIR MEDIA -  PURSUANT TO  AMENDMENT, EXTEND THE
MATURITY
DATE OF THE LOANS ADVANCED UNDER THE CREDIT AGREEMENT TO
DECEMBER 16, 2027
    * RESERVOIR MEDIA -  PURSUANT TO AMENDMENT, REMOVE EXISTING
TOTAL
LEVERAGE RATIO FINANCIAL COVENANT OF NO GREATER THAN 7.50:1.00
AS OF END OF EACH FISCAL QUARTER
    * RESERVOIR MEDIA -  PURSUANT TO AMENDMENT, REDUCE THE
MINIMUM
REQUIRED FIXED CHARGE COVERAGE RATIO FINANCIAL COVENANT TO
1.10:1.00
    * RESERVOIR MEDIA-PURSUANT TO AMENDMENT, MODIFY CONSOLIDATED
SENIOR DEBT TO LIBRARY VALUE RATIO FINANCIAL COVENANT TO 0.450,
SUBJECT TO CERTAIN ADJUSTMENTS

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