News

TRM refinances debt

June 13, 2006

PORTLAND, Ore. - After months of struggle, TRM Corp. has completed the refinancing of its principal debt, the company announced in a press release, and is no longer in forbearance or violation of any debt covenants. The term-loan portion of the company's new $105 million facility will be reclassified as long-term debt.

The new loan includes a six-year maturity period and a blended interest rate.

Required annual principal payments are expected to be approximately $6.4 million less than those required under the company's existing loans.

"We are very pleased to have restructured our indebtedness in a way that improves our operational flexibility," TRM president and chief executive Jeff Brotman said. "This is an important step in the right direction and we are delighted to be able to focus entirely on the business opportunities we see."

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