Altus Group Amends and Increases Senior Credit Facility to $200 Million
TORONTO, ONTARIO (April 28, 2015) – Altus Group Limited (ʺAltus Groupʺ or “the Company”) (TSX: AIF), a leading provider of commercial real estate services, software and data solutions, announced today that it has amended and expanded its revolving bank credit facility (the “Facility”) to further strengthen the Company’s borrowing capability in support of its growth strategy. The Facility increases Altus Group’s borrowing capacity to $200 million (from $159.7 million), extends the term by five years to April 28, 2020 and includes other improvements including lower bank margins and greater flexibility in borrowing terms.
“We are very pleased to be continuing our long standing relationship with Bank of Montreal, National Bank and HSBC Bank Canada, with The Toronto-Dominion Bank joining as the newest syndicate member. This Facility improves our financial flexibility and enhances our ability to invest in our business and finance growth opportunities at attractive rates,” commented Angelo Bartolini, Chief Financial Officer of Altus Group.
The Facility will be effective as of April 28, 2015. The co-leads for the Facility are Bank of Montreal and National Bank of Canada. Altus Group appreciates the continued support of its banking partners.
About Altus Group Limited
Altus Group Limited is a leading provider of independent advisory services, software, and data solutions to the global commercial real estate industry. All of our five core practices – Research, Valuation and Advisory, ARGUS Software, Property Tax Consulting, Cost Consulting and Project Management, and Geomatics – embody and reflect decades of experience, a broad range of expertise, and leading edge technology. Our offerings empower clients to analyze, gain insight and recognize value on their real estate investments. Headquartered in Canada, we have approximately 2,300 employees around the world, with operations in North America, Europe and Asia Pacific. Our clients include some of the world’s largest real estate industry participants, spread across a broad variety of sectors.
We are focused on creating sustainable shareholder value that generates long-term returns by targeting organic and accretive growth while providing quarterly dividend payments of $0.15 per share. Our securities are traded on the TSX under the symbols AIF and AIF.DB.A.
For more information on Altus Group, please visit: www.altusgroup.com.
Certain information in this press release may constitute “forward-looking information” within the meaning of applicable securities legislation. All information contained in this press release, other than statements of current and historical fact, is forward-looking information. Forward-looking information includes information that relates to, among other things, objectives, strategies and intentions, and future financial and operating performance and prospects. Generally, forward-looking information can be identified by use of words such as “may”, “will”, “expect”, “believe”, “plan”, “would”, “could” and other similar terminology. All of the forward-looking information in this press release is qualified by this cautionary statement. Forward-looking information is not, and cannot be, a guarantee of future results or events. Forward-looking information is based on, among other things, opinions, assumptions, estimates and analyses that, while considered reasonable by Altus Group at the date the forward-looking information is provided, inherently are subject to significant risks, uncertainties, contingencies and other factors that may cause actual results, performance or achievements, industry results or events to be materially different from those expressed or implied by the forward-looking information. Please consult Altus Group’s most recent regulatory filings on SEDAR for more information on the Company’s forward-looking statements.
Camilla BartosiewiczBartosiewiczVice President, Investor Relations