- $6 million in estimated annual savings
IRVING, Texas, May 09, 2022 (GLOBE NEWSWIRE) -- Exela Technologies, Inc. (“Exela”) (NASDAQ: XELA, XELAP), a global business process automation leader, today announced that it has executed a three-year financing commitment from PNC Bank to replace its existing securitization facility.
The new PNC facility provides up to $150 million in committed financing and is expected to close on or before May 31, 2022. Exela estimates annual interest savings from the PNC Facility at current borrowing levels of approximately $6 million based on an initial interest rate of approximately 4.00%.
The Company will provide additional details in its 8K filing upon closing of the PNC Facility.
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