easyhome Ltd. Announces New Credit Facility to Support the

easyhome Ltd. Announces New Credit Facility to Support the Growth of
Its Consumer Finance Business 
MISSISSAUGA, ONTARIO -- (Marketwire) -- 10/04/12 -- easyhome Ltd.
(TSX:EH) ("easyhome" or the "Company"), Canada's largest merchandise
leasing company and a growing provider of financial services, today
announced it has entered into a new $20 million credit facility with
Crystal Financial LLC as Administrative Agent to support the growth
of easyhome's consumer finance business, easyfinancial Services. In
conjunction with this financing, the Company has amended the terms
and extended the maturity date of its revolving operating facility
with a syndicate of banks. These actions, when taken together, will
provide the Company with the capital necessary to achieve its growth
objectives as it continues to build upon positive momentum in its
easyfinancial Services business. 
The Company launched easyfinancial Services in 2006 to provide term
financing to consumers who are looking for credit alternatives that
are more readily accessible than banks and less costly than payday
loans. Over the past 24 months, easyfinancial Services has tripled
the size of its consumer loans receivable portfolio to $60 million at
September 30, 2012. The additional capital secured today will allow
easyfinancial Services to continue its growth and build upon its
leadership position as an alternative provider of term financing to
The new five (5) year credit facility is comprised of a $20 million
term loan and will provide the capital necessary to continue growing
the consumer loans receivable portfolio. Borrowings are at 10.50%
over the Canadian Bankers' Acceptance rate and are secured by a first
charge on the assets of the Company's wholly-owned subsidiary,
easyfinancial Services Ltd., and a second charge on substantially all
of the other assets of the Company and its subsidiaries. The term
loan allows for up to $10 million of increased borrowings as the
consumer loans receivable portfolio grows, subject to lender
Concurrently, the Company revised the terms of its existing revolving
facility with a syndicate of Canadian banks to allow for the new
easyfinancial Services term loan and to extend the revolving
facility's maturity date to October 4, 2015. The revised and
revolving facility has a maximum limit of $35 million, reducing to
$30 million on October 5, 2013, and will bear interest at the lead
lender's prime rate plus 150 to 250 bps, depending on the Company's
total debt to EBITDA ratio. The revolving facility is fully secured
by a first charge on substantially all of the assets of the Company
and its subsidiaries, excluding easyfinancial Services Ltd., and a
second charge on the assets of easyfinancial Services Ltd. Canadian
Imperial Bank of Commerce continues as the lead arranger and lender
and the continuing other members of the syndicate are National Bank
of Canada and Laurentian Bank of Canada. 
"Crystal Financial has worked hard to develop a financing package
that meets the needs of easyhome. The new term loan will allow us to
capture more of the demand for alternative sources of consumer
financing in the Canadian marketplace and continue growing our
financial services businesses," said Steve Goertz, easyhome's Chief
Financial Officer. "Additionally, we are pleased that CIBC and our
other banking syndicate partners continue to have confidence in our
business, as demonstrated by accommodating the new term loan and
extending our current banking relationship for a further two year
Steven Migliero, Senior Managing Director of Crystal Financial
commented, "We are pleased to act as agents on this new term loan
facility for easyfinancial Services, which provides additional loan
capacity for management to execute on an important strategic
initiative. With this new financing commitment, we believe the
Company will be well positioned as an industry leader." Added
Christopher Arnold, Managing Director of Crystal Financial,
"easyfinancial Services provides consumer loans to an underserved
segment of the Canadian marketplace. We are particularly impressed
with the management team, their systems and the prospects for growth
that our new capital will support." 
About easyhome 
As of October 4th, easyhome Ltd. operated 206 easyhome leasing stores
(including 8 consolidated franchise locations), 101 easyfinancial
locations and had 47 franchise locations. 
easyhome Ltd. is Canada's largest merchandise leasing Company and the
third largest in North America, offering top quality, brand-name
household furnishings, appliances and home electronic products to
consumers under weekly or monthly leasing agreements through both
corporate and franchise stores. In addition, the Company offers a
variety of financial services, including loans and prepaid cards,
through its easyfinancial Services business. easyhome Ltd. is listed
on the TSX under the symbol 'EH'. For more information, visit
About Crystal Financial 
Crystal Financial is an independent commercial finance company that
provides senior and junior secured term asset-based and cash flow
loans ($10 million to $150 million) to middle market companies,
either as a direct lender or in partnership with banks, other ABL
lenders or private equity investors. The company has a unique ability
to lend on alternative or unusual assets such as intellectual
property or brand names. Its team of experienced, responsive
professionals have underwritten, closed and managed more than $20
billion in secured debt commitments across a wide range of
industries. For more information, please visit www.crystalfinco.com.
easyhome Ltd.
Steve Goertz
Senior Vice President and Chief Financial Officer
905-272-9886 (FAX)
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