Star Holdings announced the successful extension of its Safe Credit Facility and Margin Loan Facility, with maturity dates now extended to March 2028. These extensions provide the company with increased financial flexibility and stability in managing its debt obligations.
The amendments to the Margin Loan Facility also include eased collateral triggers, which reduces the risk of unexpected prepayments or additional collateral requirements. Furthermore, the facility now offers a payment-in-kind (PIK) interest option, providing near-term cash flow relief by allowing interest to be added to the principal balance.
In a separate development, the company's Board of Directors authorized a share repurchase program of up to $10 million. This program demonstrates a commitment to returning value to shareholders and can potentially reduce the number of outstanding shares.
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