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SELECTED TRANSACTION DETAILS
TD Bank Agents Credit Facility Upsize to $300MM for Badger Daylighting Ltd.
Wednesday, October 9, 2019

Lenders/Participants Toronto Dominion Bank [Sole Bookrunner, Co-Lead Arranger, Administrative Agent]
Canadian Imperial Bank of Commerce [Co-Lead Arranger, Syndication Agent]
Structure Senior Secured Credit Facility Increase
Amount $300.000 Million
Borrower(s) Badger Daylighting Ltd.
Description Company increased their senior secured credit facility with a group of five lenders from $145.0 million to $300.0 million. The term of the Credit Facility has been extended from four years to five years, with a maturity date of September 30, 2024. The Credit Facility maintains an accordion feature which could provide an additional $150.0 million of credit capacity. Financial covenants and drawn pricing are consistent with the previous credit facility, with the exception of the Total Debt to EBITDA covenant, which has been increased from 2.75:1 to 4.0:1.The extension of the Credit Facility has no impact on Badger’s existing US$75.0 million of senior secured notes, including the financial covenant ratios and the maturity dates. Amortizing principal repayments of US$25.0 million for the senior secured notes are due on January 24, 2020, 2021 and 2022.
Industry Construction
Related Tags Canadian Imperial Bank of Commerce, Toronto Dominion Bank




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