Business
Decisive Dividend Corporation Announces Closing of Debt Refinancing
(TheNewswire) Kelowna, British Columbia – TheNewswire - November 9...
About this update from Decisive Dividend Corp.
[{"type":"text","content":"Decisive Dividend Corporation Announces Closing of Debt Refinancing\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n Kelowna, British Columbia\n–\n \n \n TheNewswire - November 9,\n2021 –\n \n \n Decisive Dividend Corporation (TSXV:DE)\n(\n \n \n “Decisive”\n \n \n or the “\n \n \n Corporation\n \n \n ”)\n \n \n is\npleased to announce that it\n \n \n \n \n has it has closed its previously\nannounced refinancing with Canadian Western Bank and CWB Maxium\nFinancial Inc., a wholly-owned division of Canadian Western Bank\n(collectively “CWB”).\n \n \n \n \n The new credit agreement with CWB significantly reduces\nborrowing costs while increasing operating flexibility through less\nrestrictive financial covenants, and access to $7.0 million in\nadditional revolver borrowings for acquisition purposes.\n \n \n \n \n The new agreement is for a committed 3-year term and\nalso provides for annual extension provisions. There are no required\nprincipal payments during the term of the agreement. Comparative\ndetails of the refinancing are as follows:\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n CWB\n \n \n \n \n \n Pre-existing\n \n \n \n \n \n \n (Stated in thousands of dollars)\n \n \n \n \n \n \n \n \n \n \n Interest\n \n \n \n \n Authorized\n \n \n \n \n \n \n Interest\n \n \n \n \n Authorized\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Rate\n \n \n \n \n Debt\n \n \n \n \n Drawn\n \n \n \n \n Rate\n \n \n \n \n Debt\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Revolving term operating facility\n \n \n \n \n \n \n P+1.00%\n \n \n \n \n \n \n $   8,000\n \n \n \n \n $\n \n 830\n \n \n \n \n \n P+1.00%\n \n \n \n \n \n \n $   8,000\n \n \n \n \n \n \n Revolving term acquisition facility\n \n \n \n \n \n \n P+3.00%\n \n \n \n \n \n \n 7,000\n \n \n \n \n -\n \n \n \n \n NA\n \n \n \n \n \n \n NA\n \n \n \n \n \n \n Non-amortizing term facility\n \n \n \n \n \n \n \n \n \n \n 6.25%\n \n \n \n \n \n \n 21,000\n \n \n \n \n 21,000\n \n \n \n \n 8.00%\n \n \n \n \n \n \n 20,945\n \n \n \n \n \n \n Total available debt\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n $ 36,000\n \n \n \n \n $\n \n 21,830\n \n \n \n \n \n \n \n \n \n $ 28,945\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Maximu...