Fort Capital Partners is pleased to announce that Ionik Corporation (TSXV: INIK; OTCQB: INIKF) has secured new credit facilities totalling US$100 million.
The financing consists of a US$80 million senior term facility, a US$10 million revolving credit facility, and a US$10 million subordinated facility. National Bank of Canada acted as co-lead arranger with ATB Financial, sole bookrunner, and administrative agent for the senior facilities, with participation from ATB Financial, Citibank Canada, and Export Development Canada.
Net proceeds were used to refinance the Company’s existing syndicated credit facility, fund cash settlements associated with its broader debt reorganization, and provide additional liquidity. Concurrently, Ionik completed a reorganization of approximately US$83.9 million of acquisition-related debt, reducing near-term maturities and extending its remaining acquisition-related debt to 2030.
Fort Capital Partners acted as Credit Advisor to Ionik in arranging and refinancing the new facilities.
Read the full press release here: Ionik Announces Closing of New US$100 Million Credit Facilities and Completion of Debt Reorganization