DGII - Digi International amends credit facility to avail $200M

Digi International (DGII) amends and restates credit agreement with BMO Harris Bank as administrative agent and collateral agent.The new facility provides with a senior secured credit facility consisting of a $200M senior secured revolving credit facility with an option to increase the size of the facility by an additional $75M.It replaces the existing credit facility that included a $48M Term A loan balance and a $100M senior secured revolving loan.“We are excited with the greater flexibility provided by our bank group and this new credit agreement. By converting our Term A debt into a revolver we gain greater flexibility. And the expansion of our borrowing capability can help Digi to accelerate our growth plans, both organically and inorganically.” said Jamie Loch, Senior Vice President, CFO, and Treasurer. Press Release

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Digi International amends credit facility to avail $200M