Creative Realities Enters Into New Revolving Credit Facility With First Merchants Bank

MT Newswires Live05-29

Creative Realities (CREX) said Tuesday it paid off $13.6 million owed to lender Slipstream Communications after executing a new $22.1 million secured revolving credit facility with First Merchants' (FRME) retail bank unit.

The new revolving loan facility matures in May 2027 and also includes a $5 million accordion feature, Creative Realities said.

Creative Realities will pay a floating interest rate on its borrowings equal to the 1-month term secured overnight financing rate plus 0.11% and another 2% to 3.5% calculated quarterly based on the ratio of the company's debt load to its earnings before interest, taxes, depreciation and amortization, according to a regulatory filing Tuesday.

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