Corus Entertainment amends terms with credit facility banking group

Chicago, Oct. 27 – Corus Entertainment Inc. agreed with its bank group to amend its sixth amended and restated credit agreement, previously amended on Feb. 17, 2023 and signed on March 18, 2022, according to a press release.

The amendment increases the maximum total debt to cash flow ratio required under the financing covenants through Aug. 31, 2024.

Mandatory quarterly amortization payments were reintroduced.

Further, certain conditions related to the use of proceeds on asset disposals are changed and additional restrictions on distributions have been introduced.

RBC Capital Markets and TD Securities are leads on the credit facility.

Corus Entertainment is a media and entertainment company based in Toronto.

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