MONTREAL, Oct. 02, 2023 (GLOBE NEWSWIRE) -- mdf commerce inc. (TSX: MDF), a SaaS leader in digital commerce technologies, is pleased to announce that it has amended and extended the revolving facility under the Credit Agreement effective as of September 29, 2023. The maturity date is extended from August 31, 2024 to October 1, 2025 and the revolving facility total commitment is reduced to $30 million from the previous $50 million, while interest rates and other terms remain substantially unchanged.
The Corporation’s decision to reduce the borrowing commitment available under the revolving facility by $20 million is attributable to the improvement in the Corporation’s liquidity position. Reducing the stand-by fees on the unused portion of the revolving facility is aligned with our focus on profitability and cost saving measures previously announced. “This decision demonstrates our confidence in the Corporation’s stable financial liquidity, while maintaining a borrowing capacity that allows us to execute on our corporate strategy,” said Luc Filiatreault, President and Chief Executive Officer of mdf commerce.
About mdf commerce inc.
mdf commerce inc. (TSX: MDF) enables the flow of commerce by providing a broad set of software-as-a-service (SaaS) solutions designed to optimize and accelerate commercial interactions between buyers and sellers. Our platforms and services empower businesses around the world, enabling them to generate billions of dollars in transactions on an annual basis. Our eprocurement, ecommerce and emarketplaces solutions are supported by a strong and dedicated team of approximately 650 employees based in Canada, the U.S., Ukraine and China. For more information, please visit mdfcommerce.com, follow us on LinkedIn or call 1-877-677-9088.
For further information
mdf commerce inc.
Luc Filiatreault, President & CEO
Toll free: 1-877-677-9088, ext. 2004
luc.filiatreault@mdfcommerce.com
Deborah Dumoulin, Chief Financial Officer
Toll free: 1-877-677-9088, ext. 2134
deborah.dumoulin@mdfcommerce.com
