Orion Group Holdings, Inc. announces the closing of a new five-year $120 million Senior Credit Facility with UMB Bank.
The refinancing enhances financial flexibility, increases liquidity, and lowers overall cost of capital for Orion.
The transaction positions Orion for strategic growth and execution of priorities in the construction industry.
Financial Flexibility Boosted
The new Credit Facility provides expanded liquidity and greater borrowing capacity, improving financial maneuverability.
Lower Cost of Capital
Borrowings under the new facility bear interest at SOFR plus 2.5% to 3.0%, significantly reducing costs compared to previous agreements.
Focused Growth Strategy
Orion's partnership with UMB Bank aligns with the Company's plans for future growth and strategic priorities.
- The $120 million refinancing supports Orion Group Holdings' long-term financial health and ability to pursue growth opportunities.
- Lower borrowing costs and increased liquidity from the Credit Facility enhance Orion's competitiveness in the construction sector.
Orion Group Holdings' successful refinancing with UMB Bank marks a milestone in its growth strategy, setting the stage for enhanced financial performance and strategic execution in the construction industry.