The Dolan Company Secures $200m Plus Credit Line for Growth Initiatives and Strategic Acquisitions



Via News Release

The Dolan Company (NYSE:DM), a leading provider of services and business information to professionals in law, finance and real estate, said today it has secured a new five-year credit facility of $205 million that could expand to $250 million in the future.

The $205 million facility, which represents an increase from the company’s current $178 million facility, includes a $155 million revolving credit facility and a $50 million term loan. A $45 million expansion, or “accordion” provision, will allow The Dolan Company to increase borrowings for up to $45 million more under certain conditions.  The debt is intended to fund working capital, growth initiatives, and strategic acquisitions.”

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The Company also announced a stock buyback authorization for the repurchase of up to 2 million shares at market price.