12:46 PM EDT, 05/28/2024 (MT Newswires) -- Creative Realities ( CREX ) said Tuesday it paid off $13.6 million owed to lender Slipstream Communications after executing a new $22.1 million secured revolving credit facility with First Merchants' ( FRME ) retail bank unit.

The new revolving loan facility matures in May 2027 and also includes a $5 million accordion feature, Creative Realities ( CREX ) said.

Creative Realities ( CREX ) will pay a floating interest rate on its borrowings equal to the 1-month term secured overnight financing rate plus 0.11% and another 2% to 3.5% calculated quarterly based on the ratio of the company's debt load to its earnings before interest, taxes, depreciation and amortization, according to a regulatory filing Tuesday.