Digi International expands senior secured revolving credit facility to $350 million
DGII•Credit facility expanded and refinanced
Digi International expanded and refinanced its senior secured revolving credit facility to $350 million, replacing a $250 million facility.
- The accordion feature increased to the greater of $130 million or 100% of trailing 12-month adjusted EBITDA, lifting potential capacity to $480 million.
- Facility maturity was extended to Aug. 27, 2031.
- SOFR margins were cut to 125-262.5 basis points, tied to net leverage.
- The maximum total net leverage covenant was raised to 3.50x from 3.0x, with a 0.50x acquisition holiday available for four fiscal quarters.
- BMO Bank acts as administrative agent, while BMO Capital Markets and Bank of America serve as joint bookrunners.
