SunTrust Agents Liberty Tax Service Revolver Amendment
Liberty Tax, parent company of Liberty Tax Service announced that it has amended its revolving credit facility with its lenders to increase the facility from $143 million to $204 million, to extend the maturity of the facility, and to increase the maximum commitments of the facility to $275 million (assuming the future use of an accordion feature).
According to the company 8K filing, SunTrust Bank served as administrative agent.
“These amendments show the support of our lenders in providing credit to Liberty Tax Service and its subsidiaries, and demonstrate the market’s continued confidence in our business,” stated John Hewitt, CEO. “This increase and extension provide us with an additional source of capital, which we can use to support our franchisees and grow our business.”