Buddy Technologies Limited advised that it has closed on a USD 20 million loan facility (Loan Facility) with Partners for Growth VI, L.P. (PFG). The loan facility consists of a USD 10 million term loan (Term Loan) and a USD 10 million revolving line of credit (LoC) to fund the working capital and growth needs of the business. The Term Loan will be used to totally refinance the vendor debt held by Luminous Wide Limited ("Luminous") and to partially refinance the vendor debt held by Eastfield Lighting (Hong Kong) Co., Limited ("Eastfield"), with vendor debt being subject to a USD 10 million reduction in total indebtedness (for nil consideration) as part of these arrangements.