Harte Hanks amended its credit facility with Texas Capital Bank, increasing the borrowing base to $22 million and extending the maturity date to April 17, 2020.
The company intends to use the credit facility for working capital and general corporate purposes.
As with the initial credit facility with Texas Capital Bank, HHS Guaranty is providing collateral support for the amended facility. As part of the amended agreement, HHS Guaranty has the right to designate a member of the board of directors, with David Copeland (a current director) serving as the initial designee.
“The amended credit facility provides Harte Hanks increased financial flexibility as we continue our transition to become a leader in modern marketing—putting the human back into marketing,” stated Jon Biro, Harte Hanks CFO. “We appreciate Texas Capital Bank’s continued support of our business.”
Harte Hanks is a global marketing services firm specializing in multi-channel marketing solutions.
