Brief: Stingray Successfully Completes Refinancing Of Credit Facilities Providing Additional Flexibility Of Up To $560M To Pursue M&A Opportunities
09/10/2020 12:35
Oct 9 (Reuters) - Stingray Group Inc RAYa.TO :
* STINGRAY SUCCESSFULLY COMPLETES REFINANCING OF CREDIT
FACILITIES
PROVIDING ADDITIONAL FLEXIBILITY OF UP TO $560M TO PURSUE M&A
OPPORTUNITIES
* STINGRAY GROUP - INCREASES CREDIT FACILITY TO $420
MILLION,
EXTENDS TERM TO OCTOBER 2023, INCLUDING EXISTING $20 MILLION
TERM LOAN UNCHANGED TO MAY 2021
* STINGRAY GROUP INC - EXISTING SUB-DEBT OF $40M UNCHANGED
TO
OCTOBER 2023
* STINGRAY GROUP - RENEWED TERMS ADD INCREMENTAL COMMITMENTS
UP TO
$100 MILLION UPON REQUEST, SUBJECT TO PREDETERMINED CONDITIONS
Source text for Eikon: ID:nGNX18b6JL
Further company coverage: RAYa.TO
((Reuters.Briefs@thomsonreuters.com;))
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