Calian, a mission critical solutions company focused on defense, space, healthcare and other strategic critical infrastructure sectors, closed a CDN$200 million debt facility with Royal Bank of Canada (RBC) as lead arranger, sole bookrunner and administrative agent; Fédération des Caisses Desjardins du Québec; Canadian Imperial Bank of Commerce (CIBC); JP Morgan Chase Bank; and Export Development Canada (EDC).
This new three-year term revolving credit facility totals $350 million, an increase of 37% over the previous facility. The renewed facility includes a committed amount of $200 million, combined with an uncommitted accordion feature of up to $150 million, providing added financial flexibility. This new agreement replaces the existing facility.
“The new lending syndicate brings together Canada’s leading banks, support from EDC, Canada’s Export Credit Agency, and marking a first for Calian, a U.S.-based financial partner, JP Morgan,” Patrick Houston, chief financial officer of Calian, said. “This credit facility underscores the confidence in our business fundamentals and long-term strategy. With more than $1.6 billion in backlog and highly differentiated solutions that serve the Defence, Space and Health markets, we are well positioned to deploy capital in pursuit of consistent, long-term growth and value creation.”
