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PopReach Announces New US$115 Million Syndicated Credit Facility
PopReach Announces New US$115 Million Syndicated Credit Facility Canada NewsWire ...
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[{"type":"text","content":"\n \n \n \n PopReach Announces New US$115 Million Syndicated Credit Facility\n \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.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n /NOT FOR DISTRIBUTION TO US WIRE SERVICES OR FOR DISSEMINATION IN\n \n THE UNITED STATES OF AMERICA\n \n /\n \n \n \n \n \n The credit facility will support the continued execution of the Company's acquisition strategy\n \n \n \n \n \n TORONTO\n \n \n ,\n \n \n May 25, 2023\n \n \n /CNW/ - PopReach Corporation (\"\n \n PopReach\n \n \" or the \"\n \n Company\n \n \") (TSXV: POPR) (OTCQX: POPRF) today announced a new\n \n US$115 million\n \n syndicated credit facility (the \"\n \n Credit Facility\n \n \") with Bank of\n \n Montreal\n \n (\"\n \n BMO\n \n \" or \"\n \n Agent\n \n \") as the sole arranger, sole bookrunner and administrative agent, and including National Bank of\n \n Canada\n \n , Export Development Canada and Toronto Dominion Bank as syndicate lenders (collectively the \"\n \n Syndicate\n \n \"). The Credit Facility replaces and represents an increase from the Company's current senior secured credit facility with BMO, totaling\n \n US$43 million\n \n (\"\n \n Original BMO Facility\n \n \").\n \n \n \n \n \n \n \n \n \n The Credit Facility consists of a\n \n US$10 million\n \n revolving facility (\"\n \n Revolver\n \n \"), a\n \n US$45 million\n \n non-revolving term facility (\"\n \n Term Loan\n \n \"), and\n \n US$60 million\n \n in Delayed Draw Term Loans (\"\n \n DDTL\n \n \").  The Revolver will be used for general working capital and general corporate requirements, the Term Loan is being used to replace the Original BMO Facility and to refinance other existing indebtedness of the Company, and the DDTL will be used to finance previous and future acquisitions. On closing of the Credit Facility (\"\n \n Closing\n \n \"),\n \n US$6.5 million\n \n of the DDTL was used to refinance a portion of the vendor take back note issued, and the bridge financing sourced, to complete the acquisition of Schiefer Media, Inc. (\"\n \n SCS\n \n \") on\n \n April 18,...