Sylogist expands credit facility to C$75 million

By Taylor Fox

New York, March 18 – Sylogist Ltd. entered into a binding term sheet with its existing lender to expand its credit facility to C$75 million from C$40 million, according to a news release.

Sylogist increased its credit facility concurrently with closing its acquisition of Municipal Accounting Systems, Inc.

“An expanded credit facility provides additional resources to readily pursue other strategic and transformative acquisitions,” said Sylogist president and chief executive officer Bill Wood in the release.

Sylogist is a Calgary, Alta.-based provider of enterprise systems and supply chain intellectual property solutions.

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