LUXEMBOURG, February 10, 2023 (GLOBE NEWSWIRE) – Altisource Portfolio Solutions SA (“Altisource” or the “Company”) ASPSa leading provider and marketplace to the real estate and mortgage industries, announced today that it made an amendment to the Company’s term loans on February 9, 2023 (the “Term Loan Amendment”), which the parties expect to introduce Closing on February 14, 2023 The Term Loan Amendment includes, among other things, extending the maturity date to April 2025 with an option to extend to April 2026, subject to certain prepayment and other conditions.

Altisource also announced an amendment to the Company’s revolving credit facility with STS Master Fund, Ltd. on February 9, 2023. (the “Amendment to the Revolving Credit Agreement”), also scheduled to close on February 14, 2023. The amendment to the revolving credit facility provides for a $15 million revolving credit facility with a maturity date that coincides with the maturity date of the term loan amendment because it is renewable.

The descriptions of the amendments to the Term Loan Agreement and the Revolving Credit Facility are not exhaustive and are more fully described in the Altisource 8-K dated February 9, 2023. The effectiveness of the amendments to the existing loan agreement and revolving credit facility contemplated therein are subject to various closing conditions. The transactions described above were conducted pursuant to the Transaction Support Agreement dated February 2, 2023, a copy of which is attached as Exhibit 10.1 to Altisource’s Current Report filed on Form 8-K dated February 3, 2023. There can be no guarantee that the closing of the transactions will occur on February 14, 2023, or at all.

The Company believes that the completion of the Term Loan Amendment and Revolving Credit Facility Amendment are important steps in preparing the Company for future success as Altisource’s largest and most profitable…