Canyon Valor Companies, a subsidiary of Cision, a global provider of software and services to PR and marketing professionals, entered into an incremental facility amendment to its credit agreement. Deutsche Bank , New York Branch, served as administrative and collateral agent on behalf of a syndicate of commercial lenders.

The amendment provides for an incremental $75 million dollar-denominated term loan facility. The proceeds from the facility will be used for general corporate purposes, working capital purposes and investments, which may possibly include one or more strategic acquisitions.

Canyon’s interest rate options can consist of a rate based on the adjusted LIBOR (a rate equal to the London interbank offered rate adjusted for statutory reserves) or the alternate base rate (a rate that is highest of the Deutsche Bank , New York Branch’s prime lending rate; the overnight federal funds rate plus 50 basis points or the one month-adjusted LIBOR plus 1%). The margin applicable to loans bearing interest at the alternate base rate is 3.25%. The margin applicable to loans bearing interest at the adjusted LIBOR is 4.25%.

Canyon will make quarterly principal payments under the incremental facility of $2.588 million, with the remaining balance due June 16, 2023. Canyon may also be required to make certain mandatory prepayments of the incremental facility out of excess cash flow and upon the receipt of proceeds of asset sales and certain insurance proceeds.

The obligations under the incremental facility are secured by substantially all of the assets of Canyon Companies and each of its subsidiaries organized in the U.S., the UK, the Netherlands, Luxembourg and Ireland, subject to certain exceptions.