Brookfield back-stops sale, investment process of Armtec Infrastructure
Brookfield Asset Management has agreed to support the sale and investment process of Armtec Infrastructure Inc, a manufacturer of infrastructure products and engineered construction solutions based in Guelph, Ontario. Under the deal's terms, a credit facility with Brookfield will be extended and a new facility of up to $30 million will be committed. A Brookfield affiliate will also provide Armtec with up to $150 million of bonding on a cost to complete basis. Brookfield also agreed to buy all of Armtec's assets in exchange for debt owing in the event the company is not sold or recapitalized. In 2011, Brookfield committed a $125 million senior secured loan to Armtec.
26 February 2015•9 mins read
