08:13 AM EDT, 08/20/2024 (MT Newswires) -- WildBrain ( WLDBF ) on Tuesday said it agreed with a group of private lenders, led by Sagard and Comvest Credit Partners, for a five-year US$415 million senior secured credit facility.

The facility consists of a US$375 million term loan and a US$40 million revolving credit facility, with the interest rate depending on WildBrain's ( WLDBF ) total leverage ratio. Proceeds from the facilities will be used to repay debt.

"This comprehensive plan to refinance our debt and repay our debentures extends our debt maturity as we continue to execute on a growth strategy focused on key franchises and partnerships in the kids' and family entertainment space," said WildBrain ( WLDBF ) CEO Josh Scherba. "More than ever, major players such as Netflix, Apple TV+, Supercell, SEGA and LEGO are turning to WildBrain ( WLDBF ) for our 360-degree expertise in Content Creation, Audience Engagement and Global Licensing."