DG FastChannel Amends Senior Credit
March 25, 2009 at 5:55 AM (PT)
DG FASTCHANNEL will amend its senior credit facility dated MARCH 2008. The amended facility now consists of $148 million in term loans and a $30 million revolving line of credit for a total credit facility of $178 million. The amended senior credit facility will bear interest at LIBOR plus applicable margins of 300-500 bps based on DG FASTCHANNEL’s leverage levels. The new term loan will mature in 2013.
CFO OMAR CHOUCAIR stated, "Our business model and financial position allowed us to amend our credit facility favorably in the current low interest rate environment. The amended senior credit facility provides us with a lower effective interest rate on our debt while maintaining the financial flexibility to continue pursuing our strategies for long-term growth."