Daily News: November 17, 2015

HSBC Agents Avigilon Upsized Credit Facility


Avigilon, a provider of business intelligence and security solutions, announced it has increased its existing multi-tranche senior secured syndicated credit facility from $200 million to $240 million.

The credit facility now includes a $100 million multi-currency revolving acquisition facility, a $40 million real estate term loan, and a $100 million multi-currency revolving line of credit, which remains undrawn at this time; prior to the upsize, the revolver was limited to $60 million.

Avigilon said HSBC Bank Canada acted as lead arranger, sole book runner and administrative agent for the credit facility and the upsize. Other than the increase to the revolver, all of the credit facility’s terms and conditions remain as originally disclosed.

“The upsize strengthens Avigilon by providing additional flexibility to execute our growth strategy,” said Ric Leong, Avigilon’s chief financial officer and senior vice president. “We’re pleased to have the support of, and wish to thank, our syndicate of lenders: HSBC, Toronto-Dominion Bank, BMO Bank of Montreal, Canadian Imperial Bank of Commerce, National Bank of Canada, Business Development Bank of Canada, and Export Development Canada.”

Vancouver, Canada-based Avigilon Corporation is a provider of business intelligence and security solutions, develops, manufactures, and sells video analytics, network video management software and hardware, surveillance cameras, and access control products.