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Ebix Increases Credit Facility To $240 Million

The following excerpt is from the company's SEC filing.

with Addition of TD Bank to Lending Group

Ebix, Inc. (NASDAQ: EBIX), a leading international supplier of On-Demand software and E-commerce services to the insurance, financial and healthcare industries, today announced the expansion of its existing credit facility from $190.0 million to $240 million, to fund its growth and share repurchase initiatives. The $50.0 million increase in the bank line was the result of members of the existing bank group expanding its share of the credit facility as also the addition of TD Bank, N.A. to the Banking Syndicate, which further d iversifies Ebix’s lending group under the credit facility to five participants.

The increase in total commitments was executed under the accordion feature of the credit facility, which allowed for an increase in total commitments under the facility up to $240.0 million, in the aggregate. The credit facility originally closed August 5, 2014 and all other...