Ebix receives approval of $105 million DIP financing package

By Sarah Lizee

Olympia, Wash., Jan. 29 – Ebix, Inc. received final approval of a $105 million debtor-in-possession financing package with existing lenders, according to an order filed Friday with the U.S. Bankruptcy Court for the Northern District of Texas.

As a reminder, the financing package includes $35 million in new money and a $70 million rollup of prepetition credit facility debt.

Regions Bank is the administrative and collateral agent.

The DIP facility has a 240-day maturity and bears interest at SOFR plus 1,000 basis points.

There is a 3% upfront fee and a 2% exit fee.

Ebix is a Johns Creek, Ga.-based international supplier of on-demand software and e-commerce services to the insurance, financial, health care and e-learning industries. The company filed bankruptcy on Dec. 17 under Chapter 11 case number 23-80004.

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