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SquareTwo Financial Amends, Extends Credit Facility

May 02, 2013, 07:47 AM
Filed Under: Facility Amendments

SquareTwo Financial announced the company has improved its capital structure with a two-year extension and lower interest rate on its revolving credit facility. SquareTwo Financial secured nearly $500 million in financing in 2010 through the sale of Senior Secured Second Lien Notes and the revolving credit facility. The revolving credit facility has been extended by two years and will now mature in April of 2016. In addition, the interest rate has been reduced by one percent for all applicable margins and one half percent on the floors, which is expected to save the company more than $2 million per year.

"Since the time of our recapitalization three years ago, we have solidified our position as a leader in the asset recovery and management industry," said Paul A. Larkins , SquareTwo Financial's president and CEO. "Today SquareTwo
Financial is a highly competitive, creative, firm that is operating efficiently, and delivering strong bottom line results. This tangible success is helping us further reduce the cost of doing business."

SquareTwo Financial is a leader in the $100 billion asset recovery and management industry. Through its award-winning technology and unique Partner Network, SquareTwo Financial creates a more effective way for companies and consumers to resolve their debt commitments.

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