Rocket Fuel amends revolver, lifting letter-of-credit sub-facility size

By Jennifer Chiou

New York, July 7 – Rocket Fuel Inc. entered into on June 30 an amended and restated credit and term loan agreement, increasing the letter-of-credit sub-facility to $12 million from $5 million and changing the definition of EBITDA, according to an 8-K filing with the Securities and Exchange Commission.

Comerica Bank is the administrative agent.

The changes also affected the minimum EBITDA financial covenant under the loan facility.

The borrower is a Redwood City, Calif., company that uses artificial intelligence to improve digital advertising.

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