Apollo sale gives HMV amend and extend
Lenders to troubled UK music retailer HMV Group have agreed to extend the maturity of the firm’s credit facility by one year to September 2014 after completing the sale of entertainment venue Hammersmith Apollo for £32m.
If certain conditions are met, the maturity can be pushed out by another year, to 2015.
The margin on the loan remains unchanged at 400bp over Libor, though it can rise to 800bp on any amounts that are not repaid along the agreed repayment schedule.
HMV signed its £220m credit
Please take a trial or subscribe to access this content.
Contact our subscriptions team to discuss your access: email@example.com
To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: firstname.lastname@example.org or find out more online here.