RateGain Subsidiary Secures USD 40M Credit Facility

RateGain Travel Technologies Limited announced that its wholly owned step-down subsidiary, Sojern, Inc., has received an offer letter from J.P. Morgan Chase Bank, N.A. for a credit facility of up to USD 40 million. This facility is intended for general corporate purposes. The company has also provided disclosures regarding the loan and a corporate guarantee issued by RateGain Travel Technologies Ltd for USD 44 million in favor of J.P. Morgan to secure the credit facility for Sojern, Inc. The transaction is on an arm's length basis.