Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers I > Headlines for Innovate Corp. > News item |
Innovate’s DBM Global lifts revolving commitment to $135 million
By Marisa Wong
Los Angeles, Aug. 3 – DBM Global Inc., a subsidiary of Innovate Corp., and some other borrowers entered into an amendment on Aug. 2 to their credit agreement dated May 27, 2021 with UMB Bank, NA as administrative agent to increase the revolving commitment by $25 million, to an aggregate amount of $135 million, according to an 8-K filing with the Securities and Exchange Commission.
The amendment also revises the requirement to maintain a fixed-charge coverage ratio to 1.30 to 1.00 from 1.20 to 1.00 as of the last day of any fiscal quarter after June 30.
Formerly HC2 Holdings, Inc., Innovate is a financial services company based in New York that invests in infrastructure, life sciences and broadcasting. DBM is a steel fabrication and erection company based in Phoenix.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.