Sierra Wireless Announces Debt Financing for CAD$60 million
20 Januar 2022 - 02:00PM
Business Wire
Company secures new debt facility with CIBC
Innovation Banking and the Business Development of Canada
Sierra Wireless, Inc. (NASDAQ: SWIR) (TSX: SW), a world leading
IoT solutions provider, today announced that it has entered into a
credit agreement for a new debt financing facility with CIBC
Innovation Banking as administrative agent, and CIBC Innovation
Banking and the Business Development Bank of Canada (BDC) as
lenders. The new debt facility is for CAD$60 million and has a term
of four years. The new facility will provide additional liquidity
to the company’s balance sheet.
About Sierra Wireless
Sierra Wireless (NASDAQ: SWIR) (TSX: SW) is a world leading IoT
solutions provider that combines devices, network services, and
software to unlock value in the connected economy. Companies
globally are adopting 4G, 5G, and LPWA solutions to improve
operational efficiency, create better customer experiences, improve
their business models, and create new revenue streams. Sierra
Wireless works with its customers to develop the right
industry-specific solution for their IoT deployments, whether this
is an integrated solution to help connect edge devices to the
cloud, a software/API service to manage processes with billions of
connected assets, or a platform to extract real-time data to
improve business decisions. With more than 25 years of cellular IoT
experience, Sierra Wireless is the global partner customers trust
to deliver them their next IoT solution. For more information,
visit www.sierrawireless.com.
Connect with Sierra Wireless on the IoT Blog at
http://www.sierrawireless.com/iot-blog, on Twitter at
@SierraWireless, on LinkedIn at
https://www.linkedin.com/company/sierra-wireless and on YouTube at
https://www.youtube.com/SierraWireless.
“Sierra Wireless” is a registered trademark of Sierra Wireless,
Inc. Other product or service names mentioned herein may be the
trademarks of their respective owners.
About BDC
BDC is the bank for Canadian entrepreneurs. Its purpose is to
support small and mid-sized businesses in all industries and at all
stages of growth. Whether business owners want to take on new
markets, make their operations more efficient, acquire another
business or everything in between, BDC provides access to
financing, as well as advisory services to meet their needs. BDC’s
investment arm, BDC Capital, offers a wide range of risk capital
solutions. BDC supports underserved entrepreneurs and emergent
industries to generate greater social and economic impact. BDC is
also certified B Corp and actively contributes to the growth of a
worldwide movement of entrepreneurs who create inclusive and
sustainable prosperity. For more information on BDC’s solutions,
and to consult more than 1,000 free tools and articles visit
bdc.ca.
Forward Looking Statements
This press release contains forward-looking statements. When
used in this press release, the words "plan", "expect", "believe",
and similar expressions generally identify forward-looking
statements. These statements reflect our current expectations but
involve risks and uncertainties. These statements may relate to,
among other things: plans and timing for the introduction or
enhancement of our products and services, future market conditions,
supply conditions, channel and end customer demand conditions,
revenues, gross margins, operating expenses, profits, and other
expectations, intentions, and plans that are not historical fact.
These statements are subject to numerous risks and uncertainties
surrounding our business and the markets we operate in, including,
but not limited to, changes in technology and market conditions and
our ability to implement our strategy and successfully develop,
manufacture and supply new products and services. A further
discussion of the risks and uncertainties facing Sierra Wireless
are discussed in its Annual Information Form and Management’s
Discussion and Analysis of Financial Condition and Results of
Operations, which may be found on SEDAR at www.sedar.com and on
EDGAR at www.sec.gov and in Sierra Wireless’ other regulatory
filings with the Securities and Exchange Commission in the United
States and the provincial securities commissions in Canada. Due to
these many risks and uncertainties, we cannot assure you that the
forward-looking statements contained in this press release will be
realized. Except as may be required by applicable securities laws,
Sierra Wireless assumes no obligation to publicly update or revise
any forward-looking statements made herein or otherwise, whether as
a result of new information, future events or otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20220120005368/en/
David Climie Sierra Wireless Investor Relations
dclimie@sierrawireless.com
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