Cardinal completes syndication of $550 million credit package

Cardinal Infrastructure Group ($CDNL) completed syndication of an expanded credit package with $550 million in commitments. The structure includes a $100 million revolving facility, an existing term loan originally totaling $200 million and a new delayed-draw term loan of up to $250 million. The revolver was increased from $75 million.

The delayed-draw facility was undrawn when syndication completed and can be accessed in up to five advances over 18 months through March 2028, primarily for permitted acquisitions and related costs. The facilities mature in September 2031. This announcement confirms financing execution following an earlier disclosure of the amendment, rather than introducing another $550 million of new borrowing or cash already drawn onto the balance sheet.

Sources:

• Cardinal Infrastructure — completed financing syndication, PR Newswire release