Corus Orthodontists has extended its secured syndicated credit facility through a syndicate of Canadian and US lenders. The Canadian Imperial Bank of Commerce acted as sole lead arranger and administrative agent, with Scotiabank and ATB Financial serving as co-documentation agents.
The facility increases Corus’ access to capital from C$175 million to C$250 million, with an uncommitted accordion that allows for expansion up to C$325 million. It was originally due to expire in Dec 2025 but has now been extended three and a half years to Dec 2028.
Peter Bishop, CFO of Corus Orthodontists, said: “This extension and expansion underscores our focus on profitability and maintaining a strong balance sheet. We appreciate the ongoing support from our lending partners as we continue scaling our network of orthodontic partnerships across North America.”
Dean Prevost, CEO of Corus Orthodontists, added: “With this expansion and our existing cash reserves, we now have access to more than C$100 million for acquisitions. We look forward to welcoming new doctor-partners who bring clinical expertise and entrepreneurial drive, while continuing to strengthen our doctor-led model across North America.”
