05:20 PM EDT, 03/20/2024 (MT Newswires) -- Lumine Group Inc. ( LMGIF ) , a global acquirer of communications and media software companies, Wednesday announced that it has entered into a revolving credit facility agreement with a syndicate of Canadian and US financial institutions to provide long-term financing to support the company's operating needs and acquisition pipeline.

The facility amount is US$310 million with a US$50 million uncommitted accordion to grow the facility if required.

The facility is collateralized by substantially all the assets of certain direct and indirect subsidiaries of the company and contains covenants based on the financial position and financial performance of the Ring-Fenced Subsidiaries. The covenants include a maximum leverage ratio and an interest coverage ratio. The facility maturity date is March 21, 2027 and bears an interest rate which varies based on SOFR, CORRA or prime rates, plus applicable spreads based on the leverage ratio.

The syndicate of Canadian and US financial institutions is led by Bank of Montreal, and includes the following lenders: Federation des Caisses Desjardins du Quebec, the Toronto-Dominion Bank, Wells Fargo Bank N.A., Citibank N.A., and PNC Bank Canada.

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