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Reported Earlier, Altisource Secures Agreement To Slash Debt By $58M, Extend Maturities, And Strengthen Balance Sheet For Long-Term Stability

Benzinga ·  Dec 17, 2024 02:21

The Transactions Contemplated by the Agreement Would (a) Reduce the Company's Current Outstanding Debt Obligations from an aggregate principal amount of $231 Million to, collectively, (i) an up to $110 Million Term Loan, (ii) an up to $50 Million Non-Interest Bearing Exit Fee and (iii) a $12.5 Million Super Senior Credit Facility, (b) Decrease the Company's Annual Cash and PIK Interest by Approximately $18 million1, (c) Extend the Maturity Date of the Term Loan by Five Years, (d) Grant Equity to Lenders, and (e) Grant Warrants to Shareholders

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