Colabor Group Inc. announced that it has completed the process of amendment and restatement of its senior first-ranking secured credit facility. The credit facility, as amended and restated, extends the maturity date from February 2025 to February 2028. The amended and restated credit facility has an authorized amount of $71.8 million, comprised of a revolving credit of $50 million and a term loan of $21.8 million.

The credit facility bears interest at the cost of funds plus a margin varying between 1.75% to 2.75% depending on the Company?s leverage ratios. The credit agreement includes an accordion clause allowing, by mutual agreement, the credit facility to be increased by an additional $35 million and thus authorizing the repayment at maturity of subordinated debt if the related conditions are met.