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Exela Technologies Announces New Funding, Amendment Increases Existing Securitization Facility To $185 Million And Other Related Transactions

Exela Technologies Announces New Funding, Amendment Increases Existing Securitization Facility To $185 Million And Other Related Transactions

03/02/23, 1:39 PM
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Exela Technologies, Inc. (“Exela” or the “Company”) (NASDAQ: XELA, XELAP), a global business process automation leader, today reported its subsidiaries had obtained $51 million of new funding from B. Riley Commercial Capital, LLC (“BRCC”) and an affiliate of BRCC through a combination of an amendment of the Company’s existing $150 million PNC securitization facility to permit the addition of $35 million of junior secured financing, a separate sale of receivables, and an increase in availability under a revolving line of credit. The new securitization facility matures in June 2025 and bears interest at a per annum rate of one-month Term SOFR plus 7.5%.

Company Info

Company
Exela
Location
irving, texas, united states
Additional Info
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, 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 17,500 employees operating in 23 countries, Exela rapidly deploys integrated technology and operations as an end-to-end digital journey partner.

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