Exela Technologies unit borrows $30 million incremental term loans

By Marisa Wong

Morgantown, W.Va., April 18 – Exela Intermediate LLC, an indirect wholly owned subsidiary of Exela Technologies, Inc., borrowed an additional $30 million of incremental term loans under a second amendment to its first-lien credit agreement, according to an 8-K filing with the Securities and Exchange Commission.

The incremental term loans will bear interest at the same rate as the company’s existing senior secured term loans, namely Libor plus an applicable margin of 650 basis points, subject to a 1% Libor floor.

The incremental term loans will mature on July 12, 2023, the same maturity date as the existing term loans.

Exela entered into the second amendment on Tuesday.

Royal Bank of Canada is administrative agent, and RBC Capital Markets is lead arranger and bookrunner for the amended credit agreement.

Exela in an Irving, Texas-based business process automation company.

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