debt
confidence high
sentiment neutral
materiality 0.60
Cambium Networks enters $75M credit facility, repays $30.9M existing debt
Cambium Networks Corp
- New $75M credit facility: $30M term loan drawn immediately, $45M revolver with $45M accordion.
- Five-year maturity; proceeds used to repay ~$30.9M of existing indebtedness under prior credit agreement.
- Interest rates: Eurodollar rate plus 1.75%-2.25% for term and revolver; commitment fee 0.20%-0.25%.
- Covenants: max consolidated leverage ratio 2.75:1.00, min fixed charge coverage ratio 1.25:1.00.
- Guarantees and security: pledges of equity and substantially all assets of domestic loan parties.