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Ionik Announces Closing of New US$100 Million Credit Facilities and Completion of Debt Reorganization
New senior syndicated credit facilities led by National Bank of CanadaNew subordinated credit facility from ATB FinancialToronto, Ontario--(Newsfile Corp. - June 23, 2026) - Ionik Corporation (TSXV: INIK) (OTCQB: INIKF) (the "Company" or "Ionik") announces the successful closing of new credit facilities totaling US$100 million (the "New Facilities") and the completion of its comprehensive debt reorganization (the "Debt Reorganization"), previously announced on May 22, 2026, June 2, 2026 and June
About this update from Ionik Corporation
New senior syndicated credit facilities led by National Bank of Canada New subordinated credit facility from ATB Financial Toronto, Ontario--(Newsfile Corp. - June 23, 2026) - Ionik Corporation (TSXV: INIK) (OTCQB: INIKF) (the "Company" or "Ionik") announces the successful closing of new credit facilities totaling US$100 million (the "New Facilities") and the completion of its comprehensive debt reorganization (the "Debt Reorganization"), previously announced on May 22, 2026, June 2, 2026 and June 15, 2026. Completion of the Debt Reorganization was a condition precedent to the closing of the Company's New Facilities. "The closing of our New Facilities and completion of the Debt Reorganization represent a significant milestone for Ionik," said Ted Hastings, Chief Executive Officer of Ionik. "This transaction materially strengthens our balance sheet, simplifies our capital structure, extends debt maturities and enhances financial flexibility. We appreciate the support of National Bank of Canada, ATB Financial and our acquisition partners throughout this process and believe the Company is now better positioned to execute its strategic priorities and pursue long-term growth." The New Facilities The New Facilities consist of: National Bank of Canada acts as co-lead arranger (with ATB Financial), sole bookrunner and administrative agent for the Senior Term Facility and Revolver (collectively, the "Senior Facilities"), with participation from ATB Financial, Citibank Canada and Export Development Canada. Initial advances under the New Facilities were used to refinance the Company's existing syndicated credit facility, fund cash settlements completed as part of the Debt Reorganization, pay transaction-related fees and expenses and provide additional liquidity for working capital and general corporate purposes. The Senior Term Facility amortizes on a quarterly basis at an annual rate equivalent to approximately 15% of the outstanding principal per annum, with the remaining balance due upon maturity in June 2029, subject to extension provisions. The Senior Facilities are secured by substantially all of the assets of the Company and certain of its subsidiaries. Borrowings bear interest at variable rates determined by reference to applicable benchmark rates and the Company's to...