IBC Advanced Alloys Announces Amendment of Existing Credit Facility
IBC Advanced Alloys (OTCQB:IAALF) has announced an amendment to its credit facility with Iron Horse Credit, LLC, extending the maturity date to September 30, 2026. The amendment provides additional funding to the company's U.S. subsidiaries through advance purchase funding based on accounts receivable sales.
The amended credit agreement will accrue interest at SOFR plus 6% per annum, with interest compounded and payable monthly. The company has used the new funding to settle all outstanding amounts owed under its credit facility with Sallyport Commercial Finance, LLC. The amendment requires TSX Venture Exchange approval.
IBC Advanced Alloys (OTCQB:IAALF) ha annunciato una modifica al suo accordo di credito con Iron Horse Credit, LLC, prolungando la data di scadenza al 30 settembre 2026. La modifica prevede finanziamenti aggiuntivi alle controllate statunitensi tramite finanziamento di anticipo basato sulla vendita di crediti commerciali. Il nuovo accordo di credito maturerà interessi al tasso SOFR più 6% all'anno, con interessi composti e pagabili mensilmente. L'azienda ha utilizzato i nuovi fondi per estinguere tutte le somme ancora dovute nell'ambito del suo accordo di credito con Sallyport Commercial Finance, LLC. La modifica richiede l'approvazione della TSX Venture Exchange.
IBC Advanced Alloys (OTCQB:IAALF) ha anunciado una enmienda a su facilidad de crédito con Iron Horse Credit, LLC, extendiendo la fecha de vencimiento al 30 de septiembre de 2026. La enmienda proporciona financiamiento adicional a las filiales estadounidenses mediante financiamiento de compra anticipada basado en ventas de cuentas por cobrar. El acuerdo de crédito modificado devengará intereses a la tasa SOFR más 6% anual, con intereses capitalizados y pagaderos mensualmente. La empresa ha utilizado los nuevos fondos para liquidar todos los importes pendientes bajo su acuerdo de crédito con Sallyport Commercial Finance, LLC. La enmienda requiere la aprobación de la TSX Venture Exchange.
IBC Advanced Alloys(OTCQB:IAALF)는 Iron Horse Credit, LLC와의 신용 facility를 개정해 만기일을 2026년 9월 30일로 연장했다고 발표했습니다. 개정은 매출채권 매입 기반의 어드밴스 구매 자금을 통해 미국 자회사에 추가 자금을 제공합니다. 개정된 신용계약은 SOFR 플러스 6% 연의 이자를 발생시키며 이자는 매월 복리로 지급됩니다. 이 회사는 Sallyport Commercial Finance, LLC와의 신용계약에 남아 있던 모든 금액을 정산하기 위해 새 자금을 사용했습니다. 개정은 TSX Venture Exchange의 승인을 필요로 합니다.
IBC Advanced Alloys (OTCQB:IAALF) a annoncé un amendement à sa ligne de crédit avec Iron Horse Credit, LLC, prolongeant la date d'échéance au 30 septembre 2026. L'amendement prévoit un financement supplémentaire pour les filiales américaines par le biais d'un financement d'anticipation basé sur les ventes à crédit. Le accord de crédit modifié portera intérêt au taux SOFR plus 6 % par an, les intérêts étant capitalisés et payables mensuellement. L'entreprise a utilisé ce nouveau financement pour régler tous les montants en souffrance sous son accord de crédit avec Sallyport Commercial Finance, LLC. L'amendement nécessite l'approbation de la TSX Venture Exchange.
IBC Advanced Alloys (OTCQB:IAALF) hat eine Änderung seiner Kreditfazilität mit Iron Horse Credit, LLC angekündigt und das Fälligkeitsdatum auf den 30. September 2026 verlängert. Die Änderung ermöglicht zusätzliche Finanzierung für die US-Tochtergesellschaften durch Vorabkauffinanzierung basierend auf dem Forderungsbestand. Die geänderte Kreditvereinbarung weist Zinsen von SOFR zuzüglich 6 % pro Jahr aus, Zinsen werden monatlich kapitalisiert und zahlbar. Das Unternehmen hat die neuen Mittel verwendet, um alle offenen Beträge aus seiner Kreditvereinbarung mit Sallyport Commercial Finance, LLC zu begleichen. Die Änderung bedarf der Genehmigung der TSX Venture Exchange.
IBC Advanced Alloys (OTCQB:IAALF) أعلنت عن تعديل في تسهيـلها الائتماني مع Iron Horse Credit, LLC، لتمديد تاريخ الاستحقاق إلى 30 سبتمبر 2026. يوفر التعديل تمويلاً إضافياً للشركات الفرعية الأمريكية من خلال تمويل الشراء المسبق استناداً إلى مبيعات الحسابات المدينة. ستتراكم الفوائد وفقاً لـ SOFR زائد 6% سنوياً، مع فائدة مركبة تدفع شهرياً. استخدمت الشركة التمويل الجديد لتسوية جميع المبالغ المستحقة بموجب تسهيلها الائتماني مع Sallyport Commercial Finance, LLC. يتطلب التعديل موافقة TSX Venture Exchange.
IBC Advanced Alloys (OTCQB:IAALF) 宣布对其与 Iron Horse Credit, LLC 的信贷安排进行修订，将到期日延长至 2026 年 9 月 30 日。该修订通过基于应收账款销售的预付款融资，为公司在美国的子公司提供额外资金。修订后的信贷协议将以 SOFR 加 6% 年利率计息，利息按月复利并支付。公司已使用新资金清偿其与 Sallyport Commercial Finance, LLC 的信贷安排下尚欠的所有款项。该修订需获得 TSX Venture Exchange 的批准。
- Secured extension of credit facility maturity to September 2026
- Obtained additional funding through accounts receivable-based financing
- Successfully consolidated debt by paying off Sallyport Commercial Finance facility
- Higher interest rate at SOFR plus 6% per annum
- Required to pledge accounts receivable as security
FRANKLIN, INDIANA / ACCESS Newswire / September 30, 2025 / IBC Advanced Alloys Corp. ("IBC" or the "Company") (TSX-V:IB)(OTCQB:IAALF) is pleased to announce that certain of the Company's U.S. subsidiaries (the "Subsidiaries") have entered into an amendment (the "Amendment") with Iron Horse Credit, LLC (the "Lender"), to amend the existing credit and security agreement with the Lender (the "Credit Agreement"), and to extend the maturity date of the Credit Agreement until September 30, 2026. The Amendment, as further described below, provides additional funding to the Company, which the Company used today to pay all outstanding amounts owed under the Company's credit facility with Sallyport Commercial Finance, LLC.
Pursuant to the Amendment, the Lender will provide the Subsidiaries with advance purchase funding based on the sale of the Subsidiaries' accounts receivable, over which the Subsidiaries have granted the Lender a security interest. As amended, the Credit Agreement will accrue interest at a rate equal to SOFR plus
The Amendment is subject to the approval of the TSX Venture Exchange (the "TSX-V").
For more information on IBC and its innovative alloy products, go here.
On Behalf of the Board of Directors:
"Mark A. Smith"
Mark A. Smith, Chairman of the Board
# # #
Contact:
Mark A. Smith, Chairman of the Board
Jim Sims, Director of Investor and Public Relations
+1 (303) 503-6203
Email: jim.sims@ibcadvancedalloys.com
Website: www.ibcadvancedalloys.com
@IBCAdvanced $IB $IAALF #copper
About IBC Advanced Alloys Corp.
IBC is a leading advanced copper alloys manufacturer serving a variety of industries such as defense, aerospace, automotive, telecommunications, precision manufacturing, and others. At its vertically integrated production facility in Franklin, Indiana, IBC manufactures and distributes a variety of copper alloys as castings and forgings, including beryllium copper, chrome copper, and aluminum bronze. The Company's common shares are traded on the TSX-V under the symbol "IB" and the OTCQB under the symbol "IAALF".
Cautionary Statements Regarding Forward Looking Statements
Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.
Certain information contained in this news release may be forward-looking information or forward-looking statements as defined under applicable securities laws. Forward-looking information and forward-looking statements are often, but not always identified by the use of words such as "expect", "anticipate", "believe", "foresee", "could", "estimate", "goal", "intend", "plan", "seek", "will", "may" and "should" and similar expressions or words suggesting future outcomes. This news release includes forward-looking information and statements pertaining to, among other things, receipt of TSX-V approval of the Amendment. Forward-looking statements involve substantial known and unknown risks and uncertainties, certain of which are beyond the Company's control including: the risk that the Company may not be able to make sufficient payments to retire its debt, including the Credit Agreement, the impact of general economic conditions in the areas in which the Company or its customers operate, including the semiconductor manufacturing and oil and gas industries, risks associated with manufacturing activities, changes in laws and regulations including the adoption of new environmental laws and regulations and changes in how they are interpreted and enforced, increased competition, the lack of availability of qualified personnel or management, limited availability of raw materials, fluctuations in commodity prices, foreign exchange or interest rates, stock market volatility and obtaining required approvals of regulatory authorities. As a result of these risks and uncertainties, the Company's future results, performance or achievements could differ materially from those expressed in these forward-looking statements. All statements included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. These statements are based on assumptions made by the Company based on its experience, perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances.
Please see "Risks Factors" in our Annual Information Form available under the Company's profile at www.sedarplus.ca, for information on the risks and uncertainties associated with our business. Readers should not place undue reliance on forward-looking information and statements, which speak only as of the date made. The forward-looking information and statements contained in this release represent our expectations as of the date of this release. We disclaim any intention or obligation or undertaking to update or revise any forward-looking information or statements whether as a result of new information, future events or otherwise, except as required under applicable securities laws.
SOURCE: IBC Advanced Alloys Corp.
View the original press release on ACCESS Newswire
FAQ
What are the key terms of IAALF's amended credit facility with Iron Horse Credit?
How did IBC Advanced Alloys use the new funding from the Iron Horse Credit amendment?
When will IAALF's amended credit facility become effective?
What type of security is required for IBC Advanced Alloys' amended credit facility?
