BofA Agents FXCM Revolver Increase, Extension
FXCM, an online provider of foreign exchange, announced that FXCM Holdings extended the final maturity date of its credit facility to December 2016 and increased total commitments to $205 million.
According to the company’s 8-K filing, Bank of America served as administrative agent.
The credit facility contains an accordion feature whereby it can be expanded to $250 million under certain conditions. The credit facility was further amended to, among other things, provide for continued flexibility regarding financing and investment initiatives.
Drew Niv, FXCM’s chief executive officer, said, “We are pleased to have extended the maturity of our revolving credit facility which will provide us with substantial long-term liquidity and flexibility to execute on our strategic objectives. We are also extremely appreciative of the support and confidence in our company our existing lenders have displayed through their increased commitments.”
FXCM is a global online provider of foreign exchange, trading and related services to retail and institutional customers world-wide.