RetailMeNot amends loan to increase stock repurchases, add borrower

By Angela McDaniels

Tacoma, Wash., May 27 – RetailMeNot, Inc. amended its credit agreement on Thursday to increase the dollar cap for permitted stock repurchases to $150 million from $100 million, according to an 8-K filing with the Securities and Exchange Commission.

The amendment also revised the definition of EBITDA under the loan agreement and allows the borrowers to add back to EBITDA certain expenses related to permitted domestic or foreign acquisitions while also increasing the amount of unrestricted domestic cash the borrowers are required to hold to at least $50 million from at least $45 million when using this add-back.

The amendment also allows new domestic subsidiaries to become either guarantors or new borrowers under the loan agreement and adds Giftcardzen Inc., a wholly owned subsidiary of the company, as a new borrower.

The company paid a 0.05% amendment fee.

RetailMeNot operates a digital coupon marketplace and is based in Austin, Texas.

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