The Mint Leasing, Inc. announced that on or November 19, 2013, an institutional investor acquired rights to its outstanding Credit Facility and note payable with Comerica Bank. Effective on the same date, the company and the institutional investor entered into an Amended and Restated Loan and Security Agreement and amended secured note, which reduced the amount owed under the loan to $9.3 million and amended and revised certain other terms and conditions of the note. Comerica agreed to accept $8.5 million as a discounted settlement amount and agreed to release Comerica from and to indemnify Comerica against certain claims and causes of action.

As revised and amended the note accrues interest at the rate of the greater of (i) the sum of (A) the "Prime Rate", plus (B) 4.75% per annum, or (ii) 8% per annum, which interest is payable each month beginning December 10, 2013. The principal amount of the note is payable in eighteen (18) consecutive monthly installments of principal in the amount of $258,333, commencing on May 12, 2014, with a balloon payment equal to the remaining amount of the note due on November 18, 2015.