GREY:ACEXF - Post by User
Post by
allison5120on Apr 10, 2018 2:50pm
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Post# 27861201
QIC today Announced closing of $75M US credit facility
QIC today Announced closing of $75M US credit facilityQIC announced the closing of the new $75MM USD credit facility with Goldman Sachs subsidiary. See
https://www.fscwire.com/newsrelease/quantum-announces-closing-us75-million-credit-facility
Note that the interest rate is Libor plus 7% (not 8% as set out in the Feb 2018 press release). This still works out to be about 9.5% per annum today (based upon Libor 6 month rate at 2.47% today). QIC clarified by email that the Libor rate is in fact the Libor 6 month rate (2.47% today). This is great news for QIC and should help them reduce their interest costs considerably and to finance few more accretive deals.
Hopefully QIC will announce some new acquisitions in the next month or two.