Latest news with #creditfacility
Globe and Mail
3 hours ago
- Business
- Globe and Mail
Phoenix Aviation Capital and AIP Capital Announce Closing of $300m Senior Secured Credit Facility
Expands Lender Relationships to Further Support Platform's Growth DUBLIN and STAMFORD, Conn. and NEW YORK, June 10, 2025 /CNW/ -- Phoenix Aviation Capital ("Phoenix" or "the Company"), a full-service aircraft lessor managed by AIP Capital ("AIP") and a portfolio company of funds advised or controlled by affiliates of BC Partners Advisors L.P. announced the closing of a $300 million senior secured credit facility ("the facility").
Zawya
12 hours ago
- Business
- Zawya
Abu Dhabi-listed Agility Global signs $500mln credit facility
The Abu Dhabi-listed Agility Global, a subsidiary of Agility Public Warehousing Company, has signed $500 million credit facility. The facility has a maturity of three years of signing, dated June 10, 2025, with certain extension options. Agility Global, which is 51% owned by the Kuwait logistics giant Agility Public Warehousing Co., said the credit facility will be used to fund ongoing operations and future growth. (Writing by Bindu Rai, editing by Daniel Luiz)
Globe and Mail
a day ago
- Business
- Globe and Mail
Decisive Dividend Corporation Announces Extension of Credit Facility
, June 9, 2025 /CNW/ - Decisive Dividend Corporation (TSXV: DE) ("Decisive" or the "Corporation") announced that it has extended the term of its $175 million syndicated credit facility by one year. This extension maintains the committed three-year term of the credit facility and all drawn amounts now mature in June 2028 . In addition, the senior lenders agreed to increase the Corporation's leverage covenant from a 3.25 times debt to adjusted EBITDA ratio to a 3.50 times debt to adjusted EBITDA ratio. A summary of the key aspects of the Corporation's credit facility are as follows: Top tier lending syndicate: National Bank of Canada (administrative agent), Royal Bank of Canada , and Fédération des caisses Desjardins du Québec. $175 million overall facility with $100 million committed and an available $75 million accordion. Fully revolving credit facility that can be utilized to fund working capital, capital expenditures, and acquisitions. No required principal payments for committed three-year term. All drawn amounts mature in June 2028 with annual extension provisions. Variable interest rates tiered based on leverage ratios with a current 6% effective rate. No fees on the $75 million accordion until drawn. Financial covenants: 3.5:1 total debt to adjusted EBITDA ratio; reported 2.7:1 at March 31, 2025 1.5:1 interest charge coverage ratio; reported 1.8:1 at March 31, 2025 Rick Torriero , Chief Financial Officer of Decisive, noted: "We want to thank each member of our lending syndicate. They have been great partners and this first annual extension along with the extra flexibility provided by the increase in our leverage ratio demonstrates their commitment to working with Decisive to help us achieve our objectives. The overall facility provides us with ample liquidity to fund growth in our current operations as well as opportunistically fund acquisitions when required while then being able to look to the capital markets to rebalance to our targeted 50% debt and 50% equity funding split. From an M&A perspective, this credit facility gives us the ability to provide funding certainty to vendors, which differentiates us in the M&A markets we are focused in and, as a result, is strategically important in helping us achieve our growth objectives." About Decisive Dividend Corporation Decisive Dividend Corporation is an acquisition-oriented company, focused on opportunities in manufacturing. The Company's purpose is to be the sought-out choice for exiting legacy-minded business owners, while supporting the long-term success of the businesses acquired, and through that, creating sustainable and growing shareholder returns. The Company uses a disciplined acquisition strategy to identify already profitable, well-established, high quality manufacturing companies that have a sustainable competitive advantage, a focus on non-discretionary products, steady cash flows, growth potential and established, strong leadership. For more information on Decisive, or to sign up for email notifications of Company press releases, please visit Cautionary Statements Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of the contents of this News Release. This press release contains forward-looking statements. Forward-looking statements are necessarily based upon a number of expectations and assumptions that, while considered reasonable by management at the time the statements are made, are inherently subject to significant business, economic and competitive risks, uncertainties and contingencies, many of which are beyond the Company's control and many of which are subject to change. Readers are cautioned to not place undue reliance on forward-looking statements which only speak as to the date they are made. Although management believes that the expectations and assumptions underlying such forward-looking statements are reasonable, there can be no assurance that such expectations or assumptions will prove to be correct. A number of factors could cause actual future results, performance, achievements and developments of the Company to differ materially from anticipated results, performance, achievements and developments expressed or implied by such forward-looking statements. Risk factors that could cause actual results or outcomes to differ materially from the results expressed or implied by forward-looking information are more particularly described in the most recent annual MD&A and annual information form of the Corporation available on the Corporation's profile at The forward-looking information contained in this release is made as of the date hereof and the Corporation is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein .
Yahoo
4 days ago
- Business
- Yahoo
Backblaze Secures Credit Line to Strengthen Financial Position
Backblaze, Inc. (NASDAQ:BLZE), a specialist in cloud storage solutions, has disclosed the $20 million senior secured revolving credit facility with Citizens Bank. With a market capitalization of $318.244 million and an impressive 22% revenue growth in the past year, the company's move is directed towards improving liquidity and strengthening growth initiatives. Completed as of March 31, 2025, the launched credit line enhances the company's financial flexibility, which matches the giant's liquidity position, standing at over $50 million in cash and marketable securities. The credit facility offers borrowing capacity at an interest rate that is either associated with the adjusted Secured Overnight Financing Rate (SOFR) and an additional 3.25% margin, or an alternate base rate with a 2.25% margin. While the initial term of the loan is two years, a one-year extension option is also on the table. A data center operator working on a rack of servers, emphasizing the company's cloud services. Management has expressed great optimism about this collaboration with the bank, highlighting that the terms support the company's financial footing while keeping costs relatively low. The deal includes typical terms like financial covenants, standard clauses, and usual fees. Backblaze, Inc. (NASDAQ:BLZE), headquartered in California and founded in 2007, is a storage cloud platform. The core offerings of the company include cloud services, Backblaze B2 Cloud Storage, and Internet of Things. From individuals to organizations, the cloud powerhouse serves a wide clientele. While we acknowledge the potential of BLZE as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock. READ NEXT: and . Disclosure: None. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
National Post
4 days ago
- Business
- National Post
Bragg Gaming Provides Update on New Revolving Credit Facility
Article content TORONTO — Bragg Gaming Group ( NASDAQ: BRAG, TSX: BRAG) (' Bragg ' or the ' Company '), a leading global B2B iGaming content and technology provider, today provided an update to its April 25, 2025 announcement of its intention to secure a new revolving credit facility. Bragg has now obtained requisite approvals from a Schedule I Canadian bank for a Senior Secured Revolving Credit Facility up to USD 6 million (the ' Facility ') that will be used for funding working capital, growth initiatives and for general corporate purposes. Article content The Facility is expected to become available following the repayment of the remaining USD 2 million outstanding under the Company's existing promissory note (the ' Note ') owing to entities controlled by Doug Fallon. The Company expects the Note to be repaid from cash on hand in the next few weeks, with the Facility becoming available for drawdown thereafter. The lender under the Note has agreed to extend the maturity of the Note to July 15, 2025. Article content The Facility will be on more favorable terms than the existing Note, including lower borrowing costs and improved drawdown flexibility. Article content Cautionary Statement Regarding Forward-Looking Information Article content This news release contains forward-looking statements or 'forward-looking information' within the meaning of applicable Canadian securities laws ('forward-looking statements'), including, without limitation, statements with respect to: the Company entering into a new debt facility and repayment of the Note; and the impact on the Company's strategic growth initiatives and corporate vision and strategy. Forward-looking statements are provided for the purpose of presenting information about management's current expectations and plans relating to the future and allowing readers to get a better understanding of the Company's anticipated financial position, results of operations, and operating environment. Often, but not always, forward-looking statements can be identified by the use of words such as 'plans', 'expects' or 'does not expect', 'is expected', 'budget', 'scheduled', 'estimates', 'forecasts', 'intends', 'anticipates' or 'does not anticipate', or 'believes', or describes a 'goal', or variation of such words and phrases or state that certain actions, events or results 'may', 'could', 'would', 'might' or 'will' be taken, occur or be achieved. Article content All forward-looking statements contained in this news release reflect the Company's beliefs and assumptions based on information available at the time the statements were made. Actual results or events may differ from those predicted in these forward-looking statements. All of the Company's forward-looking statements are qualified by the assumptions that are stated or inherent in such forward-looking statements, including the assumptions listed below. Although the Company believes that these assumptions are reasonable, this list is not exhaustive of factors that may affect any of the forward-looking statements. The key assumptions that have been made in connection with the forward-looking statements include the Company's financial resources and liquidity, the regulatory regime governing the business of the Company; the operations of the Company; the products and services of the Company; the Company's customers; the growth of the Company's business, meeting minimum listing requirements of the stock exchanges on which the Company's shares trade; the integration of technology; and the anticipated size and/or revenue associated with the gaming market globally. Forward-looking statements involve known and unknown risks, future events, conditions, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, prediction, projection, forecast, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, the following: risks related to the Company's business and financial position; that the Company may not be able to execute a new debt facility with a third party lender; risks associated with general economic conditions; adverse industry events; future legislative and regulatory developments; the inability to access sufficient capital from internal and external sources; the inability to access sufficient capital on favorable terms; realization of growth estimates, income tax and regulatory matters; the ability of the Company to implement its business strategies; competition; economic and financial conditions, including volatility in interest and exchange rates, commodity and equity prices; changes in customer demand; disruptions to our technology network including computer systems and software; natural events such as severe weather, fires, floods and earthquakes; any disruptions to operations as a result of the strategic alternatives review process; and risks related to health pandemics and the outbreak of communicable diseases. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Article content The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events, or otherwise, except in accordance with applicable securities laws. Article content ( Article content , Article content TSX: BRAG Article content ) is an iGaming content and platform technology solutions provider serving online and land-based gaming operators with its proprietary and exclusive content, and cutting-edge player account management ('PAM') technology. Bragg Studios offer high-performing and passionately crafted casino game titles using the latest in data-driven insights from in-house brands including Wild Streak Gaming, Atomic Slot Lab and Indigo Magic. Its proprietary content portfolio is complemented by a selection of exclusive titles from carefully selected studio partners under the Powered By Bragg program. Games built on Bragg's remote games server ('RGS') technology are distributed via the Bragg HUB content delivery platform and are available exclusively to Bragg customers. Bragg's powerful, modular PAM technology powers multiple leading iCasino and sportsbook brands and is supported by expert in-house managed, operational, and marketing services. Content delivered via the Bragg HUB either exclusively or from the Bragg aggregated games portfolio is managed from a single back-office which is supported by a cutting-edge data platform, and Bragg's award-winning Fuze™ player engagement toolset. Bragg is licensed, certified, or otherwise approved and operational in over 30 regulated iCasino markets globally, including in the U.S, Canada, LatAm and Europe. Article content Article content Article content Article content Article content Article content Article content Robert Simmons, Head of Communications, Bragg Gaming Group Article content Article content press@ Article content
