Regions Bank Commits to $20 Million Facility for Dreams
Wednesday, June 30, 2010
Dreams, Inc. announced that it received a commitment from Regions Bank to provide a $20 million senior secured credit facility for Dreams, Inc. and its subsidiaries. The facility is subject to execution of a definitive agreement between Dreams and the bank, which agreement shall contain customary terms and provisions.
In addition, Dreams received and executed an initial 15-day extension, to July 15, 2010, of its existing senior secured credit facility with Comerica Bank. The Comerica facility was extended on the same terms and conditions as currently in place. Dreams will pay a $10,000 bank fee and reimburse Comerica for legal fees in connection with documenting the extension. There were no modifications to the terms and conditions of this credit facility, other than the extension.
Dreams, Inc. is a 30-year old vertically integrated sports memorabilia and licensed products firm.
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