DBM Global Inc., an operating subsidiary of INNOVATE Corp., has entered into an amended and restated credit agreement providing for an $85 million term loan and a $135 million revolving credit facility. This new Credit Facility totals $220 million and is designed to fully repay DBMG’s existing debt obligations while providing additional working capital capacity.
The senior secured debt facility, led by UMB Bank, N.A., is set to mature on May 20, 2030, significantly extending DBMG's debt maturity profile. The agreement also includes an accordion feature, allowing for an increase in the credit facility size by an additional $50 million, providing flexibility for future capital needs.
This enhanced financial flexibility is expected to support DBMG's continued growth, especially given that the company added over $500 million in new awards to its adjusted backlog in the previous quarter. The Credit Facility ensures DBMG has sufficient liquidity to meet the working capital requirements for its platform of companies.
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