09:53 AM EST - Ritchie Bros. Auctioneers Incorporated : Announced the closing of an amendment to its credit agreement with a syndicate of lenders pursuant to which, among other things, Ritchie Bros. obtained: amendments to the facility to specifically permit the previously announced proposed merger with IAA, Inc., including upsizing various covenant baskets upon the closing date of the proposed IAA merger to reflect the size and needs of the combined company; commitments for a term loan A facility in an aggregate principal amount of up to $1.825 billion to be used to finance the proposed IAA merger, and the ability to borrow up to $200 million of the revolving facility on a limited conditionality basis to finance the proposed IAA merger. Ritchie Bros. Auctioneers Incorporated
shares T.RBA are trading down $0.61 at $75.68.
