Exela Technologies, a global business process automation provider, established GP 2XCV, an indirect, wholly-owned subsidiary, to deploy up to $105 million to repurchase debt. B. Riley Commercial Capital agreed to provide up to $75 million of debt financing to GP 2XCV alongside equity contributions by Exela of up to $30 million to purchase first-priority senior secured notes due 2023 and/or term loans under the first lien credit agreement, dated as of July 12, 2017, issued by Exela Intermediate and Exela Finance.
As of Nov. 17, Exela Technologies’ total liquidity was approximately $348 million, including $75 million under the new facility.
