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BRIEF-Stingray Successfully Completes Refinancing Of Credit Facilities Providing Additional Flexibility Of Up To $560M To Pursue M&A Opportunities

Published 2020-10-09, 07:35 a/m
© Reuters.
RAYa
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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

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