Daily News: September 5, 2014

Wells Fargo Capital Finance Amends Avid Revolver

According to an 8-K filing, Avid Technology entered into an amendment to its credit agreement with Wells Fargo Capital Finance, in its capacity as lender and administrative agent, to increase the maximum amount available under its revolving credit facility to $45.0 million from $40.0 million and to decrease the maximum amount available for its subsidiary Avid Europe to $15 million from $20.0 million.

The amendment also extends the maturity of the credit agreement entered into between the parties in October 2010 from October 1, 2014 to October 1, 2015 and adds certain covenants.