Under the terms of the agreement, the company will: Fully extinguish the loans under the credit facility totaling $449.5 million and obtain a new secured revolving credit facility between $65 million and $70 million, to be supplied by one of the company’s lenders Significantly reduce the company’s annual debt service from $32 million to less than $5 million Deleverage the company’s balance sheet, reducing its net leverage from approximately 12.4x to less than 1.0x
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