BRIEF-People Corp buys all of the voting shares of BPA Financial Group

Wed Apr 13, 2016 2:18pm EDT
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April 13 (Reuters) - People Corp :

* Says BPA Financial Group Limited is partnering with People Corporation group of companies

* Transaction will be immediately accretive to EBITDA per share

* Says closing purchase price was funded by a draw of $18.2 million on company's expanded senior credit facility

* Company has purchased 100 pct of voting shares of BPA

* Purchase price is comprised of a payment of $18.2 million paid at closing and a payment of $0.5 million payable in September 2018

* Says Canadian Imperial Bank Of Commerce, has expanded size of company's credit facility and has extended its term

* Says senior credit facility has been increased by $26.2 million to total of $61.2 million, an increase over current facility of $35.0 million Source text for Eikon: Further company coverage: