BBTV enters C$40 million three-year credit agreement in two parts

By Wendy Van Sickle

Columbus, Ohio, Jan. 10 – BBTV Holdings Inc. entered into a C$40 million three-year credit agreement with a Canadian leading alternative capital provider, according to a news release, which did not name the capital provider.

The credit agreement provides credit facilities consisting of a term loan of C$20 million that was advanced Wednesday and an uncommitted revolver in the maximum amount of C$20 million.

On closing, a portion of the proceeds of the term loan were used to pay the consideration to acquire all the company’s subordinate voting shares and convertible debentures, to repay a discounted amount owed to UFA Film und Fernseh GmbH under a promissory note dated Oct. 28, 2020 in full and repay $5.4 million to MEP Capital Holdings III, LP under a loan agreement dated Feb. 14, 2023.

BBTV is a media and technology company with headquarters in Vancouver, B.C.

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