Orion Group Holdings entered into an amendment to its existing credit agreement with Regions Bank and other lenders, providing for a new $20 million revolving credit facility to supplement its existing $50 million revolver. The new revolver will have a term of one year.
“This new credit line further strengthens our liquidity and provides additional financial flexibility as we execute our strategic plan,” Mark Stauffer, president and CEO of Orion Group Holdings, said. “We greatly appreciate the continued cooperation and support of our banking group, especially in light of the COVID-19 pandemic.”
Orion Group Holdings is a specialty construction company serving the infrastructure, industrial and building sectors. The company provides services both on and off the water in the continental United States, Alaska, Canada and the Caribbean Basin through its marine and concrete segments.
