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eCommerce Industries adds $20 million delayed-draw term loan
By Sara Rosenberg
New York, Oct. 18 - eCommerce Industries Inc. added a $20 million delayed-draw term loan to its capital structure, resulting in an increase to the overall credit facility size to $162 million from $142 million, according to a market source.
The delayed-draw loan has a 100 basis point unused fee, the source said.
In addition to the delayed-draw loan, the facility includes a $3 million revolver and a $139 million term loan.
Pricing on all tranches is around 7½%, including coupon and Libor floor. The debt was sold at an original issue discount of 981/2, according to the source.
Golub Capital is the bookrunner and administrative agent on the deal.
Proceeds will refinance existing debt and fund a small acquisition.
eCommerce is a Fort Worth, Texas-based developer of industry-specific business operations software and integrated supply chain automation.
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