AMREP Corporation announced that on December 31, 2012, the parties entered into the second amendment and joinder to the revolving credit and security agreement dated as of May 13, 2010 between the company's media services companies and the lender. The second amendment joins a newly organized, wholly-owned, indirect subsidiary of the company as a borrower party to the credit facility. The new borrower was organized for the purpose of purchasing certain assets of FulCircle Inc. The acquisition closed on December 31, 2012.

The second amendment contains the lender's consent to the acquisition along with a number of additional terms to the credit facility, including terms specifying an interim ceiling on the collateral value of the new borrower's accounts receivable and the treatment for borrowing availability and fixed charge coverage ratio calculation purposes of a contingent additional purchase price payment for the acquisition.