DBM Global Secures $220 Million Credit Facility for Growth
DBM Global Inc. Enters Amended Credit Facility Agreement
DBM Global Inc. (OTC Markets: DBMG) has recently made headlines by securing an amended and restated credit agreement that amounts to a significant total of $220 million. This financial maneuver comprises an $85 million term loan alongside a $135 million revolving credit facility, which aims to address existing debt obligations and improve working capital flexibility.
Credit Facility Details
The Credit Facility is backed by a syndicate led by UMB Bank, N.A. This structured financial solution not only ensures the stability of DBM Global's financial operations but also extends its capacity for future expansions, set to mature in the year 2030. An interesting aspect of this agreement is its accordion feature, which allows for an increase of an additional $50 million, providing DBM Global with more options as they navigate future growth opportunities.
Management Insights
Rustin Roach, the Chairman and CEO of DBM Global, expressed enthusiasm about the partnership with UMB Bank, stating that this development confirms their ongoing efforts to enhance liquidity. He emphasizes that this financial backing is essential for addressing the working capital requirements of their diverse portfolio of companies, aimed at delivering exceptional value in the construction industry.
About DBM Global Inc.
DBM Global Inc. prides itself on offering exceptional, sustainable construction solutions that enrich client satisfaction. The company operates a collaborative portfolio of businesses providing a range of services from integrated steel construction to advanced project management.
Service Offerings and Market Reach
The company’s services encompass a wide array of construction-related solutions including design-assist, engineering, fabrication, and project management. They are actively involved in multiple sectors such as commercial construction, healthcare, stadiums, mixed-use developments, and more. With a firm presence in regions including the United States, Australia, Canada, and the United Kingdom, DBM Global is poised for further international growth.
Company Contact Information
For any inquiries, you can reach out to:
DBM Global Inc.
Mark Koolis
Chief Financial Officer
(602) 257-7838
Email: Mark.Koolis@dbmglobal.com
If you're interested in learning more about DBM’s majority shareholder, INNOVATE Corp. (NYSE: VATE), it's noteworthy to visit their corporate site or get in touch for more insights.
Frequently Asked Questions
What does the recent credit agreement mean for DBM Global?
The newly amended credit agreement provides DBM Global with increased liquidity to support ongoing operations and future expansion initiatives.
Who is backing DBM Global's credit facility?
The credit facility is led by UMB Bank, N.A., ensuring strong financial support for the company.
How does this credit facility enhance DBM Global's operations?
This facility allows DBM Global to consolidate existing debt while securing additional funds for working capital, thus enhancing operational capabilities.
In which sectors does DBM Global operate?
DBM Global operates across various sectors, including commercial construction, healthcare, sports facilities, and infrastructure projects.
Who can I contact for more information about DBM Global?
You can reach out to Mark Koolis, CFO of DBM Global Inc., via phone or email for further information.
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