Affinion revises credit agreement to permit buying back loans at below par

By Susanna Moon

Chicago, Dec. 12 - Affinion Group Inc. amended its credit agreement to allow repurchases of loans at less than par, according to an 8-K filing with the Securities and Exchange Commission.

The company's parent Affinion Group Holdings, Inc. entered into an amendment and waiver to the credit agreement on Dec. 11 with lenders Deutsche Bank Trust Co. Americas as administrative agent and Banc of America Securities LLC as syndication agent.

For any such loans acquired by Affinion under the credit agreement, the company has agreed to relinquish some of its voting rights.

As of Dec. 12, the company said it had not acquired any such loans and that it could not assure that it would acquire loans in the future.

Affinion is a Norwalk, Conn.-based provider of marketing services and loyalty programs.

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