Business
Calian Announces Closing of CDN $250 Million Debt Agreement
Access to additional liquidity to fuel Calian's growth strategy OTTAWA, ON / ACCESSWIRE / Jul...
About this update from Calian Group Ltd.
[{"type":"text","content":"Calian Announces Closing of CDN $250 Million Debt AgreementAccess to additional liquidity to fuel Calian's growth strategyOTTAWA, ON / ACCESSWIRE / July 24, 2023 / Calian Group Ltd. (TSX:CGY), a diverse solutions company, providing innovative healthcare, communications, learning and cybersecurity products and services, announces the closing of a CDN $180M debt facility with Royal Bank of Canada (\"RBC\") as lead arranger, sole bookrunner, and administrative agent, Desjardins Capital Markets (\"Desjardins\"), Canadian Imperial Bank of Commerce (\"CIBC\") and Bank of Montreal (\"BMO\").This new three-year term revolving credit facility with the lending syndicate includes an uncommitted accordion of $70M for total availability of up to $250M and replaces the existing debt facility with RBC and Desjardins.The long-term committed capital enables Calian to continue to execute its growth strategy and maintain focus on new mergers and acquisitions (\"M&A\").\"Calian's demonstrated growth strategy includes the consistent deployment of capital to drive long term expansion in all four of our operating segments,\" says Patrick Houston, Chief Financial Officer, Calian. \"Closing this debt facility demonstrates confidence in our strategy, our strong financial position and provides the liquidity to execute on our M&A pipeline.\"About CalianWe keep the world moving forward. Calian® helps people communicate, innovate, learn, and lead safe and healthy lives. Every day, our employees live our values of customer commitment, integrity, innovation, and teamwork to engineer reliable solutions that solve complex problems. That's \"Confidence. Engineered™\". A global company with more than 40 years of steady growth, we have offices and projects spanning North American, European, and international markets.  Visit calian.com to learn about innovative healthcare, communications, learning and cybersecurity solutions. Media inquiries: [email protected] x 2298 Investor Relations inquiries: ir@calian.com----------------------------------------------------------------------------- DISCLAIMER Certain information included in this press release is forward-looking and is subject to important risks and uncertainties. The results or events predicted in these statements may differ mate...