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Intouch Insight Ltd. restructures its primary debt vehicle
Intouch Insight Ltd. restructures its primary debt vehicle Canada NewsWire OTTAW...
About this update from Intouch Insight Ltd.
[{"type":"text","content":"\n\n\n\nIntouch Insight Ltd. restructures its primary debt vehicle\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nOTTAWA, Jan. 23, 2018\n\n\n\nOTTAWA, Jan. 23, 2018 /CNW/ - Intouch Insight Ltd. (\"Intouch\") (TSXV: INX) today announced that it has restructured its line of credit with its primary lender, the Toronto Dominion Bank (\"TD\"). \n\nUnder the terms of the agreement with TD, Intouch will increase its available line of credit (\"LOC\") to over 2 Million dollars at an interest rate of prime +1%.  The LOC will be based off a combination of the Company's accounts receivable, as well as the recurring revenue from software sales.  The agreement contains a covenant regarding the Company's tangible net worth and a covenant regarding its retention of recurring software revenue.  The debt service covenant has been removed. \n\n\"As we continue our focus on the Customer Experience Management (CEM) marketplace and accelerate our transition towards additional software sales, it made sense that we have our debt availability structured to better accommodate rapid growth.  We are thrilled to have had TD step up as a strong partner with an understanding of what we will need as we grow in the software sales marketplace.  Having our facilities tied to our recurring software revenue sales will be advantageous moving forward,\" said Cameron Watt, President & Chief Executive Officer.  \n\nAbout Intouch InsightIntouch Insight offers a complete portfolio of customer experience management (CEM) products and solutions that help global brands delight their customers, strengthen brand reputation and improve financial performance. Intouch helps clients collect and centralize data from multiple customer touch points, and gives them actionable insights to identify, sense and continuously improve customer experience efforts in real-time. Founded in 1992, Intouch is trusted by franchise and multi-location businesses for their customer survey, mystery shopping, mobile forms, operational and compliance audits, and event marketing automati...