XML 92 R81.htm IDEA: XBRL DOCUMENT v3.21.1
Revolving Credit Facility—Subsequent Event (Details Narrative) - Revolving Credit Facility [Member] - Subsequent Event [Member] - TD Bank [Member]
$ in Millions
May 17, 2021
USD ($)
Subsequent Event [Line Items]  
Line of credit, maximum borrowing capacity $ 25.0
Line of credit, description The principal outstanding bears interest per annum at the Intercontinental Exchange Benchmark Administration Ltd. LIBO rate multiplied by the Regulation D maximum reserve requirement plus 125 to 175 basis points, depending upon IDT Telecom’s leverage ratio as computed for the most recent fiscal quarter. Interest is payable monthly, and all outstanding principal and any accrued and unpaid interest is due in May 2024. IDT Telecom pays a quarterly unused commitment fee on the average daily balance of the unused portion of the $25.0 million commitment of 30 to 85 basis points, depending upon IDT Telecom’s leverage ratio as computed for the most recent fiscal quarter. IDT Telecom is required to comply with various affirmative and negative covenants as well as maintain certain targets based on financial ratios during the term of the revolving credit facility. IDT Telecom was in compliance with all of the covenants as of the date of this Quarterly Report on Form 10-Q.