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Exela Technologies Announces Closing of $160 Million Financing
January 15, 2020
Source: Globe Newswire
Exela Technologies, Inc. (“Exela”) (NASDAQ: XELA), a location-agnostic global business process automation (BPA) leader across numerous industries, today announced that it has entered into a 5-year, $160 million accounts receivable securitization facility. This facility is the first step in implementing the debt reduction and liquidity improvement initiative announced in the fourth quarter of 2019.
The facility is for an initial five year term, may be extended in accordance with its terms, and is incremental to the existing $100 million revolver facility maturing in July 2022. The new facility has a lower cost of debt than Exela’s revolving credit facility.
Guggenheim Securities LLC acted as Exela’s financial advisor.
About Exela Technologies
Exela is a business process automation (BPA) leader, leveraging a global footprint and proprietary technology to provide digital transformation solutions enhancing quality, productivity, and end-user experience. With decades of expertise operating mission-critical processes, Exela serves a growing roster of more than 4,000 customers throughout 50 countries, including over 60% of the Fortune® 100. With foundational technologies spanning information management, workflow automation, and integrated communications, Exela’s software and services include multi-industry department solution suites addressing finance and accounting, human capital management, and legal management, as well as industry-specific solutions for banking, healthcare, insurance, and public sectors. Through cloud-enabled platforms, built on a configurable stack of automation modules, and over 22,000 employees operating in 23 countries, Exela rapidly deploys integrated technology and operations as an end-to-end digital journey partner.
Find out more at www.exelatech.com.
Media Contact: Kevin McLaughlin
E: kevin.mclaughlin@icrinc.com
T: 646-277-1234
Investor Contact: William Maina
E: IR@exelatech.com
T: 646-277-1236
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