Lion Electric gets $100 million revolver via National Bank of Canada

By Wendy Van Sickle

Columbus, Ohio, Aug. 11 – Lion Electric Co. entered into a credit agreement providing for a new $100 million revolving credit facility led by National Bank of Canada as administrative agent, lead arranger and bookrunner, according to a news release.

Borrowings bear interest at Libor or CDOR plus a margin that was not specified in the release.

Proceeds are expected to be used for working capital, capital expenditure requirements and general corporate purposes.

The credit agreement requires Lion to maintain certain financial ratios.

The manufacturer of zero-emission vehicles is based in Montreal.

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