AAC Holdings Expands Credit Facility

AAC Holdings said early Monday it plans to seek a new senior secured term loan facility of up to $210 million and a new senior secured revolving credit line of up to $55 million. The company expects to use the proceeds to refinance certain existing debt and to pay transaction fees and expenses, it said in a statement.

The terms of refinancing will be disclosed upon completion, which is expected in late June. The objectives “are to improve financial flexibility, liquidity and cash flow, increase access to capital and to extend its weighted average debt maturity,” the statement added.

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