E-mail us: service@prospectnews.com Or call: 212 374 2800
Bank Loans - CLOs - Convertibles - Distressed Debt - Emerging Markets
Green Finance - High Yield - Investment Grade - Liability Management
Preferreds - Private Placements - Structured Products
 
Add to balance / Manage account  User:  Log out
Prospect News home > News index > List of issuers F > Headlines for FirstCity Financial Corp. > News item
Published on 5/14/2008 in the Prospect News Bank Loan Daily.

FirstCity amends loans, removing EBITDA to interest coverage covenant

By Sara Rosenberg

New York, May 14 - FirstCity Financial Corp. amended its credit facilities, eliminating the EBITDA to interest coverage ratio of not less than 1.50 to 1.00, according to an 8-K filed with the Securities and Exchange Commission Wednesday.

The amendment also waived any default arising from non-compliance with the EBITDA to interest coverage covenant for the fiscal quarter ended March 31.

The amendment was completed on May 9.

Bank of Scotland is the agent on the company's revolvers and is also the agent on the subordinated delayed-draw facility.

FirstCity is a Waco, Texas-based financial services company.


© 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.