CECO Environmental, an environmentally focused, diversified industrial company, amended restated its credit facility, increasing it to a $400 million senior secured revolving credit facility from the existing $246 million aggregate capacity.
The expanded credit facility comes with a five-year term and an option to increase the facility by $125 million. This move enables CECO with additional resources to efficiently fund potential opportunities and expand its footprint in global markets.
“This move not only provides us with greater financial agility but also reinforces our commitment to executing our growth plans effectively,” Peter Johansson, chief financial and strategy officer of CECO, said. “With the backing of our committed financial partners, we are well-equipped to adapt to the evolving industry landscape and seize emerging opportunities.”
Bank of America is the administrative agent; BofA Securities and TD Securities are the joint lead arrangers; and The Toronto-Dominion Bank (New York Branch), Citibank, Fifth Third Bank and JPMorgan Chase Bank are co-syndication agents.
