Avigilon, trusted provider of business intelligence and security solutions, announced that it has increased its existing multi-tranche senior secured syndicated credit facility from US$200 million to US$240 million (the "Upsize"). Details of the credit facility were originally disclosed via news release on April 7, 2015.
"The Upsize strengthens Avigilon by providing additional flexibility to execute our growth strategy."
Ric Leong, CFO and Senior VP, Avigilon
The credit facility now includes a $100 million multi-currency revolving acquisition facility, a $40 million real estate term loan, and a $100 million multi-currency revolving line of credit (the "Revolver"), which remains undrawn at this time; prior to the Upsize, the Revolver was limited to $60 million. Other than the increase to the Revolver, all of the credit facility's terms and conditions remain as originally disclosed.
HSBC Bank Canada ("HSBC") acted as lead arranger, sole book runner, and administrative agent for the credit facility and the Upsize.
"The Upsize strengthens Avigilon by providing additional flexibility to execute our growth strategy," said Ric Leong, Avigilon's CFO and Senior VP. "We're pleased to have the support of, and wish to thank, our syndicate of lenders: HSBC, Toronto-Dominion Bank, BMO Bank of Montreal, Canadian Imperial Bank of Commerce, National Bank of Canada, Business Development Bank of Canada, and Export Development Canada."