14 April 2020
Data Group Takes On More Debt and Defers Payments
BRAMPTON—
Formally Data Business Forms with sales of about $320 million
Formally Data Business Forms with sales of about $320 million
Data Communication Management Corp (DMC) recently negotiated amendments to the terms of its credit agreements  from its senior lenders . DCM has arranged up to an additional $8.8 million of borrowing base capacity, continue to make progress in resolving the financial liquidity issues encountered in connection with the implementation of their ERP system, reserves for past due customer receivables in particular have reduced their eligible borrowing base.DMC has three lenders:
Data head office in Brampton
Data head office in Brampton
$50 million a revolving credit facility  with a Canadian chartered bank, an amortizing term loan facilities with Fiera Private Debt Fund III and maintains a non-revolving term loan facility with Crown Capital Partner Funding. The interest rate on the Bank Credit has increased by 0.50% for the period from January 1, 2020 to September 30, 2020. Fiera Private Debt Fund III has defer the principal payments and  all interest on outstanding borrowings under the Crown Credit Agreement will be deferred and will be capitalized. 
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