05:53:52 EDT Mon 15 Aug 2022
Enter Symbol
or Name
USA
CA



Login ID:
Password:
Save
Converge Technology Solutions Corp
Symbol CTS
Shares Issued 210,457,581
Close 2021-12-08 C$ 11.90
Recent Sedar Documents

Converge increases credit facility to $300-million

2021-12-08 10:45 ET - News Release

Mr. Shaun Maine reports

CONVERGE TECHNOLOGY SOLUTIONS CORP. ANNOUNCES INCREASE TO CREDIT FACILITY AND ADDITION OF J.P. MORGAN CHASE TO SYNDICATE

Converge Technology Solutions Corp. has gained approval to increase its asset-based lending credit facility from $190-million to $300-million in an agreement with a syndicate of banks led by CIBC. Converge will also add J.P. Morgan Chase & Co. to the company's syndicate of banks.

"Over the course of this year, Converge has realized significant financial growth as exemplified in our recently released earnings announcement," stated Shaun Maine, chief executive officer of Converge. "As we move into 2022, we remain confident in our continued expansion. With nothing currently drawn on the line, the increase of $110-million to Converge's credit facility will allow Converge to continue building upon and investing in our strategy of growth by acquisition and other initiatives for the upcoming year and beyond."

About Converge Technology Solutions Corp.

Converge is a software-enabled information technology (IT) and cloud solutions provider focused on delivering industry-leading solutions and services. Converge's regional sales and services organizations deliver advanced analytics, cloud and cybersecurity offerings to clients across various industries. The company supports these solutions with managed services, digital infrastructure and talent expertise offerings across all major IT vendors in the marketplace. This multifaceted approach enables Converge to address the unique business and technology requirements for all clients in the public and private sectors.

© 2022 Canjex Publishing Ltd. All rights reserved.