FirstCity amends revolver, increasing pricing based on loan to value ratio

By Sara Rosenberg

New York, Dec. 20 - FirstCity Financial Corp. amended its revolving credit facility, increasing the interest rate to Libor plus 250 basis points from Libor plus 225 bps when the loan to value ratio is greater than 1.20 to 2.00, according to an 8-K filed with the Securities and Exchange Commission Wednesday.

In addition, the amendment increased the borrowing base availability to 70% from 60%.

Bank of Scotland is the agent on the deal.

The amendment was completed on Dec. 14.

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

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