Examples of 2013 Term Loan Facility in a sentence
The 2013 Term Loan Facility would have matured on November 27, 2019.
The entire proceeds were used by the Partnership to partially repay our 2013 Term Loan Facility.
Gain (loss) related to cash flow hedges reported in AOCI were fully settled as a result of the termination of the 2013 Term Loan Facility on November 8, 2021.The accompanying notes are an integral part of these consolidated financial statements.
Borrowings under the 2013 Revolving Credit Facility have a maturity of approximately 30 days if based on the Eurodollar Rate and the same maturity as the 2013 Term Loan Facility if based on the base rate.
Vince, LLC and Vince Intermediate were borrowers and VHC was a guarantor under the 2013 Term Loan Facility.On August 21, 2018, the Company refinanced the 2013 Term Loan Facility by entering into the 2018 Term Loan Facility and the 2018 Revolving Credit Facility.
The Credit Agreement provides for (i) a five-year term loan facility in an aggregate principal amount of up to $500 million (the “2013 Term Loan Facility”) and (ii) a five-year revolving credit facility in an aggregate principal amount of up to $500 million (the “2013 Revolving Credit Facility” and, collectively with the 2013 Term Loan Facility, the “2013 Credit Facility”).
All outstanding amounts under the 2013 Term Loan Facility of $29,146, including interest, were repaid in full and the 2013 Term Loan Facility was terminated.
In March 2019, the Partnership repaid all amounts outstanding under its Senior Credit Facility and there was no outstanding balance at either June 30, 2020 or December 31, 2019.As of June 30, 2020, the variable interest rate exposure related to the term loan facility under a term loan agreement, as amended, dated September 29, 2017 (2013 Term Loan Facility) was hedged using interest rate swaps at an average rate of 3.26 percent (December 31, 2019- 3.26 percent).
The interest rate swaps were structured such that the cash flows of the derivative instruments match the variable rate of interest on the 2013 Term Loan Facility.
The 2013 Term Loan Facility permits the borrower, upon prior notice to the lenders thereunder, to draw term loans up to the committed principal amount on up to four occasions until November 30, 2013, so long as the incurrence of the indebtedness would have been permitted by the covenants in the 2013 Indenture, the 2012 Indentures, the 2012 Revolving Credit Facility, the 2013 Revolving Credit Facility, the 2013 Guarantee Facility and the 2013 Term Loan Facility.