 BURLINGTON, Mass., Jan. 05, 2021 GLOBE NEWSWIRE -- Avid NASDAQ: AVID, a leading technology provider that powers the media and entertainment industry, announced today that it has entered into a new five-year 180 million term loan and 70 million revolving credit facility with JPMorgan Chase Bank, N.A. and a syndicate of banks. The proceeds from the new term loan, plus available cash on hand, were used to repay outstanding borrowings of 201 million under the Companys existing credit facility with Cerberus Business Finance, LLC, which was then terminated. The new revolving credit facility, which was undrawn at closing, can be used for working capital, other general corporate purposes and for other permitted uses. 