debt
confidence high
sentiment neutral
materiality 0.50
Tucows upsizes revolving credit facility from $180M to $240M under amended credit agreement
TUCOWS INC /PA/
- New $240M senior secured revolver replaces existing $180M facility; borrowing capacity increased by $60M.
- Interest margins range from LIBOR+1.75% to 3.25% based on total funded debt to EBITDA ratio.
- Borrowers include Tucows.com Co., Ting Fiber, Ting Inc., Tucows (Delaware) and Tucows (Emerald); RBC is agent.
- Proceeds available for general corporate purposes; customary covenants and events of default apply.