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Haivision Secures $35MM Revolving Line of Credit From Bank of Montreal

August 23, 2021, 07:55 AM
Filed Under: Specialty Industries
Related: Bank of Montreal

Haivision Systems, a leading global provider of mission-critical, real-time video streaming and networking solutions, entered into a three-year credit agreement providing for a new revolving line credit facility in the maximum principal amount of $35 million with Bank of Montreal. The revolving facility is for general working capital, general corporate requirements and financing for acquisitions.

The revolving facility also provides access to additional financing of $25 million on an uncommitted basis through an accordion provision under the same terms, bringing the total financing capacity of the facilities to $60 million. The credit agreement provides for interest at a floating rate by reference to the Canadian prime rate, the US prime rate, the CDOR rate and/or bankers' acceptance rate.

We are very pleased to announce the closing of our new revolving credit facility with Bank of Montreal," said Mirko Wicha, CEO Haivision. "While our recent IPO provided us the capital to pursue our acquisition strategy, this three-year commitment provides us with a substantial increase in our capacity to consolidate this fragmented industry."    

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