Tritium DCFC expands debt facility to $150 million

By Marisa Wong

Los Angeles, Sept. 8 – Tritium DCFC Ltd. announced entry into a $150 million debt facility provided by a consortium of investors.

The $150 million senior debt facility will refinance Tritium’s existing $90 million facility and provide a net injection of $60 million, according to a press release.

The facility has a three-year term and 8.5% cash coupon supplemented with the issuance to the lenders or their affiliates of warrants for the purchase of ordinary shares of the company.

The consortium providing the facility comprises Cigna Investments, Inc., Barings LLC and Riverstone Energy Ltd.

This capital injection will be used to fund working capital, product development and operational support and expansion, the company said.

Tritium is a Brisbane, Australia-based developer and manufacturer of direct current (DC) fast charging technology for electric vehicles.

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