Anaergia Secures $20 Million Revolving Credit Facility with National Bank of Canada
Facility strengthens balance sheet and provides additional financial flexibility to support execution of contracted project portfolio
The credit facility provides
"This agreement with
Capitalized terms used herein and not otherwise defined have the meanings ascribed to them in the Credit Agreement.
Key Terms of the Credit Facility
-
Revolving credit facility with a maximum principal amount of
$20 million -
Option to increase commitments to up to
$30 million , at the Bank’s sole discretion and subject to the satisfaction of certain conditions. - The total principal amount outstanding under the Credit Facility shall not exceed the Borrowing Base at any time.
- Three-year maturity from the effective date of the Credit Agreement
- Bullet repayment at maturity, with the ability to prepay at any time without penalty.
- The Credit Facility bears interest at rates determined by reference to the applicable pricing tier based on the Company’s Debt to EBITDA Ratio and are subject to the satisfaction of certain customary conditions precedent.
- Senior-secured facility subject to standard and customary terms and conditions with respect to fees, representations, warranties and financial covenants.
The summary of the key terms of the Credit Facility above is qualified in its entirety by the full text of the Credit Agreement, a copy of which will be available on the Company’s SEDAR+ profile at www.sedarplus.ca.
About
With
For further information please see: https://www.nbc.ca/
About
For further information please see: www.anaergia.com
Forward-Looking Statements
This press release contains “forward-looking information” within the meaning of applicable securities laws. Forward-looking information may relate to future plans, expectations and intentions, results, levels of activity, performance, goals or achievements, other future events or developments and may include, without limitation, information regarding our financial position, business strategy, growth strategy, budgets, operations, financial results, taxes, plans and objectives. Particularly, information regarding our future results, performance, achievements, prospects or opportunities or the markets in which we operate is forward-looking information. In some cases, forward-looking information can be identified by the use of forward-looking terminology such as “may”, “will”, “would”, “should”, “could”, “expects”, “plans”, “intends”, “estimate”, “believes”, “likely”, “potential”, “continue”, or “future” or the negative or other variations of these words or other comparable words or phrases. In addition, any statements that refer to expectations, intentions, projections or other characterizations of future events or circumstances contain forward-looking information. Forward-looking statements in this press release include, among other things, statements relating to the anticipated use of proceeds of the Credit Facility, the satisfaction of conditions precedent to advances under the Credit Facility and any increase in commitments under the Credit Facility. Statements containing forward-looking information are not facts but instead represent management’s expectations, estimates and projections regarding future events or circumstances.
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