Exela gets five-year term loan with $92 million initial funding

By Wendy Van Sickle

Columbus, Ohio, Dec. 17 – Exela Technologies, Inc. entered into a five-year term loan facility with global alternative investment firm Angelo Gordon that provides initial funding of approximately $92 million, according to a news release.

Subject to some conditions, further funding of $53 million may be made available.

A portion of the proceeds from the initial funding will be used to retire all $83 million of debt outstanding under Exela’s accounts receivables securitization facility.

Exela said its liquidity will be greater than $140 million assuming full funding under the new facility.

Exela in an Irving, Tex.-based business process automation company.

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