Badger Daylighting units increase credit facility to C$300 million

By Wendy Van Sickle

Columbus, Ohio, Oct. 1 – Badger Daylighting Ltd. wholly owned subsidiaries Badger Daylighting LP and Badger Daylighting Corp. increased their senior secured credit facility to C$300 million from C$145 million, according to a news release.

Toronto-Dominion Bank is the bookrunner and administrative agent and is a lead arranger along with Canadian Imperial Bank of Commerce, which is also the syndication agent.

The term of the credit facility has been extended by a year to Sept. 30, 2024.

The credit facility maintains a C$150 million accordion feature.

Financial covenants and drawn pricing are consistent with the previous credit facility, with the exception of the total debt to EBITDA covenant, which has been increased to 4.0:1 from 2.75:1.

Calgary, Alta.-based Badger provides nondestructive excavating services.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.