RE:RE:New Announcement todayUmmm..who do you think is lending them the credit facility if not for a bank, or bank consortia?
Obviously the BDC term facility is the covid loan they got from the government, as lender of last resort...but yeah, the new loans are obviously from a bank or bank consortia, we will find out exactly which entity(s) extended the credit later on.
Relaxrelax wrote: That's huge! Banks no longer controlling the company forcing stupid hedging!
This strategic repayment allows the Company to exit the Business Credit Availability Program ("BCA Program") that governed the BDC Term Facility. Participation in the BCA Program placed certain restrictions on Surge's capital allocation options, including the payment of dividends.