Ebix Announces New Credit Facility for $100M

Ebix, Inc.

today announced that it has entered into a credit agreement providing for a $100 million secured syndicated credit facility with Citibank, N.A. as administrative agent and Citibank, N.A., Wells Fargo Capital Finance, LLC, and RBS Citizens, N.A. as joint lenders. The financing is comprised of a four-year, $45 million secured revolving credit facility, a $45 million secured term loan which amortizes over a four year period with quarterly principal and interest payments commencing on June 30, 2012 and a final payment of all remaining outstanding principal and accrued interest due on April 26, 2016, and an accordion feature that provides for the expansion of the credit facility by an additional $10 million. This new $100 million credit facility with Citibank, N.A. replaces the former $55 million facility that the Company had in place with Bank of America, N.A. On April 26, 2012, Ebix fully paid all of its obligations and related fees of $45.14 million then outstanding to Bank of America N.A.