TiVo has received a $715.0 million five-year Term Loan Credit Agreement and a further $60 million credit facility.
In addition to the credit arrangement with HPS Investment Partners, TiVo has also secured a $60 million revolving loan credit agreement with Morgan Stanley and Wells Fargo Bank.
“This is significant progress for TiVo as we prepare for a separation of our IP Licensing and Product businesses. Getting the right capital structure in place for both businesses was a critical factor to the separation, and the agreement we are announcing today is a major milestone towards TiVo becoming two independent businesses,” commented Dave Shull, TiVo president and chief executive officer.
Shull confirmed TiVo was continued with plans for a separation into two independent companies by April of 2020.
