VerticalScope Refinances Its Existing Senior Secured Credit Facility
VerticalScope Holdings Inc. (TSX: FORA; OTCQX: VFORF) has announced a refinancing of its existing senior secured credit facility. The company has entered into a second amended and restated credit agreement with Capital One, increasing the revolving loan commitments to $100 million and extending the maturity date to October 4, 2028.
The new agreement removes the single term loan tranche from the existing credit agreement and provides VerticalScope with greater flexibility at the same pricing. CEO Rob Laidlaw stated that the company's strong operating results have allowed them to strengthen their balance sheet, positioning them better to pursue accretive acquisitions for accelerated growth.
Capital One, National Association is acting as the Sole Lead Arranger, Sole Book Runner, and Administrative Agent for the credit agreement, with Citibank, National Bank of Canada, and Royal Bank of Canada as additional parties in the bank syndicate.
VerticalScope Holdings Inc. (TSX: FORA; OTCQX: VFORF) ha annunciato il rifinanziamento della sua attuale linea di credito senior garantita. L'azienda ha stipulato un secondo accordo di credito modificato e riformulato con Capital One, aumentando gli impegni di prestito rotativo a 100 milioni di dollari e prorogando la scadenza al 4 ottobre 2028.
Il nuovo accordo rimuove il singolo trancio di prestito a termine dall'accordo di credito esistente e fornisce a VerticalScope una maggiore flessibilità mantenendo gli stessi costi. L'amministratore delegato Rob Laidlaw ha dichiarato che i solidi risultati operativi dell'azienda hanno permesso di rafforzare il bilancio, posizionandoli meglio per perseguire acquisizioni accretive per una crescita accelerata.
Capital One, National Association agisce come Sole Lead Arranger, Sole Book Runner e Agente Amministrativo per l'accordo di credito, con Citibank, National Bank of Canada e Royal Bank of Canada come ulteriori parti del sindacato bancario.
VerticalScope Holdings Inc. (TSX: FORA; OTCQX: VFORF) ha anunciado un refinanciamiento de su línea de crédito senior garantizada existente. La compañía ha firmado un segundo acuerdo de crédito modificado y reformulado con Capital One, aumentando los compromisos de préstamo rotativo a 100 millones de dólares y extendiendo la fecha de vencimiento hasta el 4 de octubre de 2028.
El nuevo acuerdo elimina el tramo de préstamo a término único del acuerdo de crédito existente y proporciona a VerticalScope una mayor flexibilidad manteniendo los mismos costos. El CEO Rob Laidlaw afirmó que los sólidos resultados operativos de la compañía les han permitido fortalecer su balance, posicionándolos mejor para perseguir adquisiciones que generen valor para un crecimiento acelerado.
Capital One, National Association actúa como Sole Lead Arranger, Sole Book Runner y Agente Administrativo para el acuerdo de crédito, con Citibank, National Bank of Canada y Royal Bank of Canada como partes adicionales del sindicato bancario.
VerticalScope Holdings Inc. (TSX: FORA; OTCQX: VFORF)가 기존의 선순위 담보 신용 시설을 재융자했다고 발표했습니다. 이 회사는 Capital One과 두 번째 수정 및 재정비된 신용 계약을 체결하여 회전 대출 약정을 1억 달러로 증가시키고 만기일을 2028년 10월 4일로 연장했습니다.
새로운 계약은 기존 신용 계약에서 단일 기간 대출 트랜치를 제거하고 VerticalScope가 동일한 가격으로 더 큰 유연성을 누릴 수 있도록 합니다. CEO 로브 레이드로가 회사의 강력한 운영 결과가 그들의 재무 구조를 강화할 수 있게 해주었으며, 이를 통해 더 빠른 성장을 위한 이익 있는 인수 합병을 추구할 수 있도록 해준다고 언급했습니다.
Capital One, National Association은 신용 계약의 단독 주선자, 단독 북 러너 및 관리 에이전트로 활동하며, Citibank, National Bank of Canada 및 Royal Bank of Canada가 추가 당사자로 참여하고 있습니다.
VerticalScope Holdings Inc. (TSX: FORA; OTCQX: VFORF) a annoncé un refinancement de sa ligne de crédit senior garantie existante. L'entreprise a conclu un deuxième accord de crédit modifié et révisé avec Capital One, augmentant les engagements de prêts renouvelables à 100 millions de dollars et prolongeant la date d'échéance au 4 octobre 2028.
Le nouvel accord supprime la tranche de prêt à terme unique de l'accord de crédit existant et offre à VerticalScope une plus grande flexibilité tout en maintenant les mêmes coûts. Le PDG Rob Laidlaw a déclaré que les solides résultats d'exploitation de l'entreprise leur ont permis de renforcer leur bilan, les positionnant mieux pour poursuivre des acquisitions génératrices de valeur pour une croissance accélérée.
Capital One, National Association agit en tant qu'arrangeur principal unique, gestionnaire de livres unique et agent administratif pour l'accord de crédit, avec Citibank, National Bank of Canada et Royal Bank of Canada comme parties supplémentaires du syndicat bancaire.
VerticalScope Holdings Inc. (TSX: FORA; OTCQX: VFORF) hat die Umfinanzierung seiner bestehenden senior gesicherten Kreditfazilität bekannt gegeben. Das Unternehmen hat einen zweiten geänderten und neu gefassten Kreditvertrag mit Capital One abgeschlossen, wobei die revolvierenden Darlehensverpflichtungen auf 100 Millionen US-Dollar erhöht und das Fälligkeitsdatum auf 4. Oktober 2028 verlängert wurden.
Der neue Vertrag entfernt den einzelnen Term-Darlehenstranch aus dem bestehenden Kreditvertrag und bietet VerticalScope mehr Flexibilität bei den gleichen Konditionen. CEO Rob Laidlaw erklärte, dass die starken Betriebsergebnisse des Unternehmens es ihnen ermöglicht haben, ihre Bilanz zu stärken, was sie besser positioniert, um wertschöpfende Akquisitionen für beschleunigtes Wachstum zu verfolgen.
Capital One, National Association fungiert als alleiniger Hauptarrangeur, alleiniger Buchmacher und Verwaltungsagent für den Kreditvertrag, während Citibank, National Bank of Canada und Royal Bank of Canada zusätzliche Parteien im Bankenkonsortium sind.
- Increased revolving loan commitments to $100 million
- Extended credit facility maturity to October 4, 2028
- Greater financial flexibility at the same pricing
- Improved position for pursuing accretive acquisitions
- None.
Unless otherwise stated, all amounts are in US dollars.
“We are excited to announce the refinancing of our credit facility. The new agreement provides us with greater flexibility at the same pricing and extends our term for another four years. Our strong operating results have allowed us to strengthen our balance sheet, and with this new credit agreement in place, we are in an even better position to pursue accretive acquisitions that will accelerate our growth. We thank our lenders for their continued long-term support of our business,” said Rob Laidlaw, Founder, CEO and Chair of VerticalScope.
Capital One, National Association, is acting as Sole Lead Arranger, Sole Book Runner and Administrative Agent for all lenders in connection with the A&R Credit Agreement. Citibank, National Association, National Bank of Canada and Royal Bank of Canada are additional parties in the bank syndicate.
Kirkland & Ellis LLP acted as legal counsel to VerticalScope and King & Spalding LLP acted as legal counsel to Capital One, National Association.
About VerticalScope
Founded in 1999 and headquartered in
Forward-Looking Statements
This news release may contain forward-looking information within the meaning of applicable securities legislation that reflects the Company’s current expectations regarding future events. When used in this news release, words such as “should”, “could”, “intended”, “expect”, “plan” or “believe” and similar expressions indicate forward-looking statements. Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond the Company’s control. Although the Company believes that its expectations reflected in these forward-looking statements are reasonable, such statements involve risks and uncertainties and no assurances can be given that actual results will be consistent with these forward-looking statements. Such risks and uncertainties include, but are not limited to, the factors discussed under “Risk Factors” in the Company’s Annual Information Form dated April 1, 2024, which is available on the Company’s profile on SEDAR Plus at https://sedarplus.ca. Actual results could differ materially from those projected herein. VerticalScope does not undertake any obligation to update such forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required under applicable securities laws.
Related Links
http://www.verticalscope.com
Source: VerticalScope Holdings Inc.
View source version on businesswire.com: https://www.businesswire.com/news/home/20241007025394/en/
For further information
Investor and media inquiries:
VerticalScope — Vincenzo Bellissimo
Chief Financial Officer
Tel: 416-341-7166, IR@verticalscope.com
FNK IR — Matt Chesler, CFA
Tel: 646-809-2183, fora@fnkir.com
Source: VerticalScope Holdings Inc.
FAQ
What changes did VerticalScope (VFORF) make to its credit facility in the recent refinancing?
How does the new credit agreement benefit VerticalScope (VFORF)?
Who are the key financial institutions involved in VerticalScope's (VFORF) refinanced credit facility?
What is the new maturity date for VerticalScope's (VFORF) refinanced credit facility?
