JPMorgan Chase and a syndicate of banks arranged a five-year, $180 million term loan and a $70 million revolving credit facility to refinance existing debt for Avid, a media and entertainment technology provider.
Avid Technology amended its credit facility, increasing the term loan from $105 million to $127.5 million and the revolver from $10 million to $22.5 million. Cerberus Business Finance served as administrative agent on the transaction.
Funko amended its current credit facility to reduce the interest rates on the company’s term loan A and revolving credit facility by 75 basis points and increased the borrowing base under the revolving credit facility by $20 million.
Patriot National, a provider of technology and outsourcing solutions to the insurance industry, filed a pre-packaged restructuring plan with the U.S. Bankruptcy Court for the District of Delaware.
Harvard Bioscience entered into a credit agreement with Cerberus Business Finance serving as administrative agent and collateral agent for the lenders.
ModusLink Global Solutions completed the acquisition of privately-held IWCO Direct, a leading provider of data-driven direct marketing solutions, for $476 million in cash.