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Ebix lenders agree to extend repayment period for some loans
By Marisa Wong
Los Angeles, Oct. 2 – Ebix, Inc. announced it signed an agreement with its lenders, providing for a further period until Nov. 15 for repayment of some obligations under its credit facility, subject to some conditions, while the company pursues strategic alternatives, according to a press release.
The agreement mandates that by Oct. 31 the company and the required lenders will agree on the terms of either a further amendment to the credit agreement or an alternative transaction for repayment of the obligations, and the company will deliver a carve-out plan in connection with the sale of some U.S. assets or a combination of some U.S. asset sales through an outbound process.
Ebix is a Johns Creek, Ga.-based international supplier of on-demand software and e-commerce services to the insurance, financial, healthcare and e-learning industries.
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