Advanstar amends loan to modify fixed charge coverage ratio, allow debt repayments

By Sara Rosenberg

New York, June 23 - Advanstar Communications Inc. amended its credit facility, changing the fixed charge coverage ratio, allowing for the repayment of second-lien and junior debt and providing for the preservation of the $60 million revolving loan commitment after repayment of the term loan B from the proceeds of a recent asset sale, according to an 8-K filed with the Securities and Exchange Commission Thursday.

The amendment was completed on June 20.

Bank of America is the administrative agent on the deal.

Advanstar is a New York-based provider of business-to-business marketing services.

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