Mondee amends credit facility: extends maturity to March 2025, defers principal and capitalizes interest

Mondee Holdings, Inc.

Extended maturity date of $128.5M credit facility to March 31, 2025 while seeking long-term refinancing.
Deferred $1,717,542.64 principal payment due March 29, 2024 to earlier of refinancing or June 30, 2024.
Capitalized $3,754,043.77 of March 2024 interest, added to term loan principal as PIK.
Waived any prior existing events of default except undisclosed Section 7.02(e)/(h) breaches.
Incurred $426,915 fee paid in kind, increasing outstanding principal balance.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Mondee Holdings, Inc. amended Amendment No. 13 with TCW Asset Management Company, Wingspire Capital LLC, and the lenders from time to time (effective 2024-03-11).

Action: amendment
Agreement: credit facility
Counterparty: TCW Asset Management Company, Wingspire Capital LLC, and the lenders from time to time
Effective: 2024-03-11

Exact text from the filing

On March 11, 2024, Mondee Holdings, Inc., a Delaware corporation (the “ Company ”), and certain of its subsidiaries, on the one hand, and TCW Asset Management Company, a Delaware limited liability company (the “ Administrative Agent ”), Wingspire Capital LLC, a Delaware limited liability company (“ Wingspire ”), and the lenders from time to time (the “ Lenders ”) party to the Financing Agreement (as defined herein), on the other hand, entered into that certain Amendment No. 13 (the “ Amendment ”) to that certain financing agreement, dated as of December 23, 2019

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Source: SEC EDGAR

accession 0001828852-24-000026

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