CBAM Partners announced the closing of a new $60 million Credit Facility led by RBC Capital Markets as Lead Arranger and Sole Bookrunner with lenders Royal Bank of Canada ("RBC") as Administrative Agent and Barclays Bank PLC ("Barclays") as Syndication Agent. Proceeds will be used to refinance a working capital facility provided by CBAM's parent, Eldridge Industries, and pursue growth initiatives including expansion into new geographies and seeding new investment strategies.

The Facility has a three-year term with a final maturity on December 23, 2022 and consists of a $30 million term loan and $30 million revolving credit facility. In addition, an embedded accordion feature enables the Facility to be expanded by an additional $20 million in the future.  Drawn amounts will bear interest at a rate equal to the three-month London Interbank Offered Rate ("LIBOR") plus 350bps while undrawn revolver amounts will incur a 50bps commitment fee.

Commenting on the announcement, Don Young and Mike Damaso, Partners at CBAM, said, "As CBAM continues to evolve and grow, we are excited and appreciative to partner with RBC and Barclays. With this new facility, we are well positioned to continue expanding our platform and building on our success delivering strong results for our valued clients."