Viad subsidiary gets one-year $38 million revolver via existing lender

By Marisa Wong

Morgantown, W.Va., Jan. 3 – Viad Corp.’s wholly owned subsidiary, Brewster Inc., entered into a credit agreement on Dec. 28 for a $38 million revolving credit facility with BMO Harris Bank NA, one of the lenders under Viad’s existing $300 million credit facility, according to an 8-K filed Tuesday with the Securities and Exchange Commission.

The new facility matures on Dec. 28, 2017.

Interest is equal to Libor plus 125 basis points to 225 bps. The commitment fee ranges from 15 bps to 25 bps. The applicable margin and the commitment fee are based on Viad’s leverage ratio.

The credit agreement contains covenants similar to those under Viad’s existing credit agreement.

Viad is a Phoenix-based company that provides services for exhibition organizers as well as travel and recreation services.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.