Anaergia, a global provider of integrated waste to-value solutions, entered into a credit agreement with National Bank of Canada, as lender, for a revolving credit facility in the maximum principal amount of $20 million, with an option to increase the maximum principal amount by up to $10 million. All amounts are in Canadian dollars unless otherwise stated.
The credit facility provides Anaergia with enhanced liquidity and financial flexibility to support the execution of its existing contracted backlog. Proceeds will be used for general corporate purposes, in accordance with the terms of the credit agreement.
“This agreement with National Bank of Canada reflects growing institutional confidence in Anaergia’s business model, project execution capabilities and financial discipline,” Assaf Onn, CEO of Anaergia, said. “The facility meaningfully strengthens our balance sheet flexibility as we deliver complex infrastructure projects for customers across multiple geographies.”
Key Terms of the Credit Facility
- Revolving credit facility with a maximum principal amount of $20 million
- Option to increase commitments to up to $30 million, at the bank’s sole discretion and subject to the satisfaction of certain conditions.
- The total principal amount outstanding under the credit facility shall not exceed the borrowing base at any time.
- Three-year maturity from the effective date of the credit agreement
- Bullet repayment at maturity, with the ability to prepay at any time without penalty
- The credit facility bears interest at rates determined by reference to the applicable pricing tier based on the company’s debt to EBITDA ratio and are subject to the satisfaction of certain customary conditions precedent.
- Senior-secured facility subject to standard and customary terms and conditions with respect to fees, representations, warranties and financial covenants
