Cardinal Infrastructure expands credit facility to $550 million, adds $250 million delayed-draw term loan
CDNL•Cardinal Infrastructure Group amended its senior secured credit agreement, increasing total committed facilities to $550 million and adding a $250 million delayed-draw term loan. The loan can be accessed in up to five advances through March 2028 for permitted acquisitions and was undrawn at syndication close.
1. Facility expansion
Cardinal Infrastructure Group amended its senior secured credit agreement, adding a $250 million delayed-draw term loan and increasing total committed facilities to $550 million. The revolver rose to $100 million from $75 million.
2. Terms and maturity
The delayed-draw loan can be accessed in up to five advances through March 2028 for permitted acquisitions. The revolver includes $10 million of letter-of-credit capacity and a $10 million swingline for working capital or general corporate use. The revolver, Term Loan A and delayed-draw loan mature on September 10, 2031; the delayed-draw facility was undrawn at syndication close.
