REGINA, Saskatchewan, Nov. 06, 2018 (GLOBE NEWSWIRE) -- Information Services Corporation (TSX:ISV) (“ISC®” or the “Company”) announced today that it has entered into an amended and restated credit agreement in connection with the secured credit facilities (collectively, the "Credit Facilities") provided by a Canadian chartered bank (the “Bank”).

The aggregate amount available under the Credit Facilities has been amended to $80.0 million, comprised of (i) a $10.0 million committed revolving term loan facility (“Facility 1”) for general corporate purposes and (ii) a $70.0 million delayed draw term loan facility (“Facility 2”), up to $20.0 million of which shall be used to refinance the existing credit facilities under the Original Agreement with the balance available to the Company for future growth opportunities.

Facility 1 will mature on November 6, 2021, unless renewed prior to that time and is repayable by ISC® upon demand by the Lender and the Lender may terminate at any time. Facility 2 is repayable by ISC® through quarterly payments, commencing January 2019 and matures on November 6, 2021, unless renewed prior to that time.

For further information about the Company’s Credit Facilities, please refer to the Unaudited Condensed Consolidated Interim Financial Statements for the three and nine months ended September 30, 2018 which is available on SEDAR or the Company website, www.company.isc.ca.

About ISC®
Headquartered in Canada, ISC® is the leading provider of registry and information management services for public data and records. Throughout our history, we have delivered value to our clients by providing solutions to manage, secure and administer information through our Registry Operations, Services and Technology Solutions segments. ISC® is focused on sustaining its core business while pursuing new growth opportunities. The Class A Shares Limited Voting Shares of ISC® trade on the Toronto Stock Exchange under the symbol ISV.

Cautionary Note Regarding Forward-Looking Information
This news release includes certain forward-looking information within the meaning of applicable Canadian securities legislation including, without limitation, statements regarding the availability and use of credit under the Credit Facilities, as well as the repayment provisions. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those expressed or implied by such forward-looking information. Important factors that could cause actual results to differ materially from the Company's plans or expectations include risks relating to changes in economic, market and business conditions reliance on key customers and licenses, dependence on key projects and clients, securing new business and fixed-price contracts, identification of viable growth opportunities, implementation of our growth strategy, competition and other risks and other risks detailed from time to time in the filings made by the Company including those detailed in ISC’s Annual Information Form dated March 13, 2018 and ISC’s Unaudited Condensed Consolidated Interim Financial Statements and Notes and Management’s Discussion and Analysis for the third quarter ended September 30, 2018, copies of which are filed on SEDAR at www.sedar.com.

The forward-looking information in this release is made as of the date hereof and, except as required under applicable securities legislation, ISC® assumes no obligation to update or revise such information to reflect new events or circumstances.

Investor Contact

Jonathan Hackshaw
Director, Investor Relations & Capital Markets
Toll Free: 1-855-341-8363 in North America or 1-306-798-1137
investor.relations@isc.ca