BMO, National Bank of Canada Lead Altus Facility Upsize
Altus Group expanded its revolver to further strengthen the company’s borrowing capability in support of its growth strategy. The facility increases Altus Group’s borrowing capacity to $200 million (from $159.7 million), extends the term by five years to April 28, 2020 and includes other improvements including lower bank margins and greater flexibility in borrowing terms.
“We are very pleased to be continuing our long standing relationship with Bank of Montreal, National Bank and HSBC Bank Canada, with The Toronto-Dominion Bank joining as the newest syndicate member. This Facility improves our financial flexibility and enhances our ability to invest in our business and finance growth opportunities at attractive rates, commented,” Angelo Bartolini, CFO of Altus Group.
The facility will be effective as of April 28, 2015. The co-leads for the facility are Bank of Montreal and National Bank of Canada. Altus Group appreciates the continued support of its banking partners.
Altus Group Limited is a provider of independent advisory services, software, and data solutions to the global commercial real estate industry.