Alaris permanently increases credit facility to C$373 million

By Taylor Fox

New York, Feb. 9 – Alaris Equity Partners Income Trust amended its credit facility to permanently increase it to C$373 million from C$330 million, according to a news release.

Also, an additional 0.5x EBITDA was added to the leverage covenant for the March 2021 and June 2021 measurement periods bringing the maximum leverage to 3.5x through those two periods.

Covenants return to previous levels from Sept. 30, 2021 forward.

The amendment also includes a temporary bridge facility of C$30 million to use for potential new investments prior to the closing of the offering.

The proceeds of the bridge may be used to fund a potential new investment being reviewed by Alaris in the ordinary course of its business.

Calgary-based Alaris provides alternative financing to private companies.

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