April 11, 2018 / 9:15 PM / 3 months ago

BRIEF-Front Yard Residential On April 5, Co Acting Through Its Units, Amended & Extended Its Existing $250 Mln Loan And Security Agreement

Reuters Staff

1 Min Read

April 11 (Reuters) - Front Yard Residential Corp:

* ON APRIL 5, CO ACTING THROUGH ITS UNITS, AMENDED & EXTENDED ITS EXISTING $250.0 MILLION LOAN AND SECURITY AGREEMENT

* AMENDED EXISTING AGREEMENT THROUGH ENTRY INTO SECOND AMENDED AND RESTATED LOAN AND SECURITY AGREEMENT (“AMENDMENT AGREEMENT”)

* FRONT YARD SAYS UNDER TERMS EXTENDED TERMINATION DATE BY 2 YEARS TO APRIL 5, 2020, WITH ADDITIONAL 1-YR EXTENSION TO APRIL 5, 2021 - SEC FILING

* UNDER TERMS, REDUCED INTEREST RATE SPREAD OVER ONE-MONTH LIBOR FROM 3.25% TO 3.00%

* UNDER TERMS, RETAINED MAXIMUM AGGREGATE BORROWING AMOUNT OF $250 MILLION Source text: (bit.ly/2qp5veV) Further company coverage:

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