Lumine Group Announces Completion of US$310M Debt Facility
March 20 2024 - 4:05PM
Lumine Group Inc. (TSXV: LMN) ("Lumine Group" or the "Company"), a
global acquirer of communications and media software companies,
today announced that it has entered into a revolving credit
facility agreement with a syndicate of Canadian and US financial
institutions (the “Facility”) to provide long-term financing to
support the Company’s operating needs and acquisition pipeline. The
Facility amount is US$310,000,000 with a US$50,000,000 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 (the
“Ring-Fenced Subsidiaries”) 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: Fédération
des Caisses Desjardins du Québec, the Toronto-Dominion Bank, Wells
Fargo Bank N.A., Citibank N.A., and PNC Bank Canada.
Forward Looking StatementsCertain statements
herein may be “forward looking” statements that involve known and
unknown risks, uncertainties and other factors that may cause the
actual events to be materially different from any future events
expressed or implied by such forward -looking statements. Words
such as “may”, “will”, “expect”, “believe”, “plan”, “intend”,
“should”, “anticipate” and other similar terminology are intended
to identify forward looking statements. Such forward looking
statements involve significant risks and uncertainties, should not
be read as guarantees of future results, and will not necessarily
be accurate indications of whether or not such results will be
achieved, or when such results will be achieved. A number of
factors could cause actual results to vary significantly from the
results discussed in the forward looking statements. These forward
looking statements reflect current assumptions and expectations
regarding future events and are made as of the date hereof and
Lumine Group assumes no obligation, except as required by law, to
update any forward looking statements to reflect new events or
circumstances. Additional information about the risks and
uncertainties of the Company's business and material factors or
assumptions on which information contained in forward–looking
statements is based is provided in its disclosure materials, which
are available under our profile on SEDAR+ at www.sedarplus.ca.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
About Lumine GroupLumine Group acquires,
strengthens, and grows vertical market software businesses in the
Communications and Media industry. Learn more at
www.luminegroup.com.
For further information, contact:David Nyland,
Chief Executive OfficerLumine
Groupdavid.nyland@luminegroup.comwww.luminegroup.com437-353-4910
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