DBM Global Enters Into Amended and Restated Credit Agreement
DBM Global (DBMG) has secured a new amended and restated credit agreement comprising an $85 million term loan and a $135 million revolving credit facility, totaling $220 million in senior secured debt. The Credit Facility, led by UMB Bank, N.A., will mature on May 20, 2030 and includes an accordion feature allowing for an additional $50 million increase. The funds will be used to refinance existing debt obligations and provide additional working capital capacity for the company's operations.
DBM Global (DBMG) ha ottenuto un nuovo accordo di credito modificato e riformulato che comprende un prestito a termine di 85 milioni di dollari e una linea di credito revolving di 135 milioni di dollari, per un totale di 220 milioni di dollari di debito senior garantito. La linea di credito, guidata da UMB Bank, N.A., scadrà il 20 maggio 2030 e include una funzione accordion che consente un aumento aggiuntivo di 50 milioni di dollari. I fondi saranno utilizzati per rifinanziare debiti esistenti e fornire ulteriore capacità di capitale circolante per le operazioni dell'azienda.
DBM Global (DBMG) ha asegurado un nuevo acuerdo de crédito enmendado y reformulado que comprende un préstamo a plazo de 85 millones de dólares y una línea de crédito revolvente de 135 millones de dólares, sumando un total de 220 millones de dólares en deuda senior garantizada. La facilidad de crédito, liderada por UMB Bank, N.A., vencerá el 20 de mayo de 2030 e incluye una función acordeón que permite un aumento adicional de 50 millones de dólares. Los fondos se utilizarán para refinanciar obligaciones de deuda existentes y proporcionar capacidad adicional de capital de trabajo para las operaciones de la empresa.
DBM Global (DBMG)는 8,500만 달러의 기한부 대출과 1억 3,500만 달러의 리볼빙 신용 한도를 포함하는 수정 및 재작성된 신규 신용 계약을 확보하여 총 2억 2,000만 달러의 선순위 담보 부채를 마련했습니다. 이 신용 시설은 UMB Bank, N.A.가 주도하며 2030년 5월 20일에 만기가 도래하며, 추가로 5,000만 달러 증액이 가능한 아코디언 기능을 포함합니다. 자금은 기존 부채 상환과 회사 운영을 위한 추가 운전자본 확보에 사용될 예정입니다.
DBM Global (DBMG) a obtenu un nouvel accord de crédit modifié et reformulé comprenant un prêt à terme de 85 millions de dollars et une ligne de crédit renouvelable de 135 millions de dollars, totalisant 220 millions de dollars de dette senior garantie. La facilité de crédit, dirigée par UMB Bank, N.A., arrivera à échéance le 20 mai 2030 et inclut une option d’extension permettant une augmentation supplémentaire de 50 millions de dollars. Les fonds seront utilisés pour refinancer les obligations de dette existantes et fournir une capacité supplémentaire de fonds de roulement pour les opérations de l’entreprise.
DBM Global (DBMG) hat eine neue geänderte und neu formulierte Kreditvereinbarung gesichert, die einen 85 Millionen US-Dollar Terminkredit und eine 135 Millionen US-Dollar revolvierende Kreditfazilität umfasst, was insgesamt 220 Millionen US-Dollar an vorrangigen gesicherten Schulden ergibt. Die Kreditfazilität, angeführt von der UMB Bank, N.A., läuft am 20. Mai 2030 aus und beinhaltet eine Akkordeon-Funktion, die eine zusätzliche Erhöhung um 50 Millionen US-Dollar ermöglicht. Die Mittel werden verwendet, um bestehende Schulden zu refinanzieren und zusätzliche Betriebskapitalreserven für die Geschäftstätigkeit des Unternehmens bereitzustellen.
- Secured $220 million in total credit facilities, providing significant liquidity
- Extended debt maturity to 2030, improving long-term financial stability
- Additional $50 million accordion feature offers future financing flexibility
- Full refinancing of existing debt obligations
- Increased debt exposure with $220 million credit facility
- Potential interest expense burden on future cash flows
PHOENIX, May 20, 2025 (GLOBE NEWSWIRE) -- DBM Global Inc. (“DBMG”), announced today that it has entered into an amended and restated credit agreement that provides for an
The Credit Facility from a syndicate led by UMB Bank, N.A. provides for senior secured debt in the total amount of
“We are excited to continue our outstanding relationship with our banking partners at UMB and this provides us with sufficient liquidity to support the working capital requirements for our platform of companies,” said Rustin Roach, Chairman and CEO of DBMG.
About DBM Global Inc.
DBMG is focused on delivering world class, sustainable value to its clients through a highly collaborative portfolio of companies which provide better designs, more efficient construction, and superior asset management solutions. The Company offers integrated steel construction services from a single source and professional services which include design-assist, design-build, engineering, detailing, BIM co-ordination, steel modeling/detailing, fabrication, rebar detailing, advanced field erection, project management, and state-of-the-art steel management systems. Major market segments include commercial, healthcare, convention centers, stadiums, gaming and hospitality, mixed use and retail, industrial, public works, bridges, transportation, and international projects. The Company, which is headquartered in Phoenix, Arizona, has operations in United States, Australia, Canada, India, New Zealand, the Philippines and the United Kingdom.
Contact:
DBM Global Inc.
Mark Koolis
Chief Financial Officer
(602) 257-7838
Mark.Koolis@dbmglobal.com
For additional information on DBMG’s majority shareholder, INNOVATE Corp. (NYSE: VATE), please visit http://www.innovatecorp.com or contact:
Investor Contact:
Solebury Strategic Communications
Anthony Rozmus
ir@innovatecorp.com
(212) 235-2691
Cautionary Statement Regarding Forward-Looking Statements
Certain statements in this press release may constitute “forward-looking statements” within the meaning of the federal securities laws. Forward-looking statements generally relate to future events, such as DBMG’s anticipated performance and working capital needs for the operations under the new credit facility and loan agreement. You are cautioned that such statements are not guarantees of future performance and that DBMG’s actual results may differ materially from those set forth in the forward-looking statements. All of these forward-looking statements are subject to risks and uncertainties that may change at any time. Factors that could cause DBMG’s actual expectations to differ materially from these forward-looking statements include DBMG’s working capital needs and ability to perform under the new credit facility and loan agreement and the other factors under the heading “Risk Factors” set forth in INNOVATE’s Annual Report on Form 10-K, as supplemented by INNOVATE’s quarterly reports on Form 10-Q. Such filings are available on Innovate’s website or at www.sec.gov. You should not place undue reliance on these forward-looking statements, which are made only as of the date of this press release. DBMG undertakes no obligation to publicly update or revise forward-looking statements to reflect subsequent developments, events, or circumstances, except as may be required under applicable securities laws.
FAQ
What is the total value of DBM Global's (DBMG) new credit facility in 2025?
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