Coach America amends and restates loan, revising leverage covenant

By Sara Rosenberg

New York, Feb. 18 - Coach America amended and restated its senior secured credit facility, resetting the leverage ratio test and other terms to provide additional operating flexibility, according to a news release.

In addition, the company is getting a $25 million equity investment from its shareholders and is converting $24.5 million of second-lien debt into common equity.

Coach America is a Dallas-based tour and charter bus operator and motorcoach services provider.

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