Lumine Group Announces Completion of US$310M Debt Facility
Summary
TORONTO, March 20, 2024 (GLOBE NEWSWIRE) -- Lumine Group Inc. (TSXV: LMN) ("Lumine Group" or the "Company"), a global acquirer of communications and media software companies, today announced that it has entered into a revolving credit facility agreement with a syndicate of Canadian and US financial institutions (the Facility) to provide long-term financing to support the Companys operating needs and acquisition pipeline. The Facility amount is US$310,000,000 with a US$50,000,000 uncommitted accordion to grow the facility if required.The Facility is collateralized by substantially all the assets of certain direct and indirect subsidiaries of the Company (the Ring-Fenced Subsidiaries) and contains covenants based on the financial position and financial performance of the Ring-Fenced Subsidiaries. The Facility maturity date is March 21, 2027 and bears an interest rate which varies based on SOFR, CORRA or prime rates, plus applicable spreads based on the leverage ratio.The syndicate of Canadian and US financial institutions is led by Bank of Montreal, and includes the following lenders: F\xe9d\xe9ration des Caisses Desjardins du Qu\xe9bec, the Toronto-Dominion Bank, Wells Fargo Bank N.A., Citibank N.A., and PNC Bank Canada.Forward Looking StatementsCertain statements herein may be forward looking statements that involve known and unknown risks, uncertainties and other factors that may cause the actual events to be materially different from any future events expressed or implied by such forward -looking statements. These forward looking statements reflect current assumptions and expectations regarding future events and are made as of the date hereof and Lumine Group assumes no obligation, except as required by law, to update any forward looking statements to reflect new events or circumstances. Additional information about the risks and uncertainties of the Companys business and material factors or assumptions on which information contained in forwardlooking statements is based is provided in its disclosure materials, which are available under our profile on SEDAR+ at www.sedarplus.ca.Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.About Lumine GroupLumine Group acquires, strengthens, and grows vertical market software businesses in the Communications and Media industry.