> TeraGo Announces Extension to its Credit Agreement
TeraGo Inc. (“TeraGo” or the “Company”) (TSX: TGO, www.terago.ca), today announced that an amending agreement (the “Amending Agreement”) was entered into between TeraGo Networks Inc., the Company (as guarantor), and each of Royal Bank of Canada and The Toronto-Dominion Bank to further amend the previously executed credit agreement dated June 30, 2020 (the “Credit Agreement”) between the parties. The parties agreed, among other things, to extend the maturity date of the Credit Agreement from June 30, 2022 to June 30, 2023.
As part of the Amending Agreement, TeraGo Networks will make a lump sum principal repayment to its term facility, which will reduce its borrowings under such facility to $22.5 million on June 30, 2021.
The existing covenants and other terms and conditions under the Credit Agreement were substantially carried over for the extension.
TeraGo owns a national spectrum portfolio of exclusive 24 GHz and 38 GHz wide-area spectrum licenses including 2,120 MHz of spectrum across Canada’s 6 largest cities. TeraGo provides businesses across Canada with cloud, colocation and connectivity services. TeraGo manages over 3,000 cloud workloads, operates five data centres in the Greater Toronto Area, the Greater Vancouver Area, and Kelowna, and owns and manages its own IP network. The Company serves business customers in major markets across Canada including Toronto, Montreal, Calgary, Edmonton, Vancouver, Ottawa and Winnipeg. For more information about TeraGo, please visit www.terago.ca.
For further information, please contact:
TeraGo Investor Relations
Matt Glover, Gateway Investor Relation