Dexterra Group Announces Increase to Credit Facility
Toronto, Ontario--(Newsfile Corp. - September 7, 2021) - Dexterra Group Inc. (TSX: DXT) ("Dexterra Group" or the "Company") announced today that it entered an amendment to its existing revolving credit facility on September 7 in the aggregate amount of $200 million, representing an increase of $25 million, and provides an increase of $50 million in an uncommitted accordion for, among other things, acquisitions up to total $125 million.
The newly amended credit facility, which includes a consortium of prominent financial institutions, has a three-year term, maturing September 7, 2024.
"We've entered into a facility that is designed to grow with our business and offer us greater flexibility. Dexterra Group has paid down debt over the past 15 months to substantially strengthen our balance sheet and is now focused on strategic growth," says John Mac Cuish, Chief Executive Officer. "The amendment offers more favourable terms due to the improved credit position of the Company."
About Dexterra Group
Dexterra Group employs more than 6,000 people delivering a range of support services for the creation, management, and operation of infrastructure across Canada.
Powered by people, Dexterra Group brings best-in-class regional expertise to every challenge and delivers innovative solutions, giving clients confidence in their day-to-day operations. Activities include a comprehensive range of facilities management services, industry leading workforce accommodation solutions, innovative modular building capabilities, and other support services for diverse clients in the public and private sectors.
For further information contact:
Drew Knight, CFO
Head office: Airway Centre, 5915 Airport Rd., 4th Floor Mississauga, Ontario L4V 1T1
Telephone: (416) 767-1148
You can also visit our website at dexterra.com
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