MMA Capital Holdings Announces Revolving Credit Facility and Share Buyback Plan
MMA Capital Mgmt, LLC (MMAC)
US:NASDAQ Investor Relations:
mmacapitalmanagement.com
Company Research
Source: PR Newswire
BALTIMORE, Sept. 19, 2019 /PRNewswire/ -- MMA Capital Holdings, Inc. (Nasdaq: MMAC) ("MMA Capital" or "the Company") today announced that its indirect wholly-owned subsidiary, MMA Energy Holdings, LLC ("MEH"), entered into a secured revolving credit facility ("Credit Agreement") with the lenders party thereto (the "Lenders") and East West Bank ("EWB"), as administrative and collateral agent ("Agent"). The Credit Agreement establishes a $125 million revolving credit facility of which $70 million has been committed and $30 million has been advanced as of the initial closing. The committed amount may be increased up to the full amount of the facility after the initial closing upon the joinder of additional lenders and may be further expanded by up to an additional $50 million with the concurrence of the Lenders. The Credit Agreement has a floating interest rate of LIBOR plus 2.75%, payable monthly in arrears and matures in 36 months, subject to one twelve-month extension at the option
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