WildBrain completed the refinancing of its senior secured term loan with a new seven-year, US$285 million senior secured term loan facility, maturing in March 2028. RBC Capital Markets acted as sole lead arranger and bookrunner on the refinancing. The Term Loan has no financial maintenance covenant and bears interest at a rate of LIBOR plus 4.25%.

The Company has also entered into a new five-year, US$30 million revolving credit facility with an interest rate of LIBOR plus 4.00%. The Revolving Facility does not carry a financial maintenance covenant, except when amounts are drawn and outstanding. The Revolving Facility matures on the earlier of March 2026 or three months prior to the maturity of the Company's convertible debentures, except where converted.

The net proceeds of the Term Loan were used to repay the existing US$276.5 million term facility maturing in December 2023. The Revolving Facility replaces the existing undrawn US$30 million revolving credit facility maturing in June 2022.

Eric Ellenbogen, CEO of WildBrain, said: "We have been hard at work over the past 20 months repositioning our assets for meaningful, long-term growth. With two major IP deals announced in the past six months and a robust deal pipeline, we are now well on our way to executing our strategic vision. Credit markets have taken notice of our improving financial performance and earnings trajectory, enabling us to refinance our term loan and our revolver at attractive terms. We added significant duration to both of these instruments while also removing the financial maintenance covenant on the term loan. This enhanced capital structure affords us significant strategic and financial flexibility to further drive our digital, content and brand strategies."