Digi International entered into an amended and restated credit agreement with BMO Harris Bank as administrative agent and collateral agent.

The new facility provides Digi with a senior secured credit facility consisting of a $200 million senior secured revolving credit facility with an option to increase the size of the facility by an additional $75 million. It replaces the existing credit facility that included a $48 million Term A loan balance and a $100 million senior secured revolving loan.

“We are excited with the greater flexibility provided by our bank group and this new credit agreement,” said Jamie Loch, Senior Vice President, CFO, and Treasurer. “By converting our Term A debt into a revolver we gain greater flexibility. And the expansion of our borrowing capability can help Digi to accelerate our growth plans, both organically and inorganically.”

Subject to the terms of the facility, Digi may use borrowings for working capital, capital expenditures, restricted payments, acquisitions and other general corporate purposes.

Parties to the agreement include BMO Capital Markets Corp, as joint lead arranger and sole book runner, Silicon Valley Bank, as joint lead arranger and syndication agent, and U.S. Bank and Citizens Bank as lenders.