Lion electric announces expiry of covenant relief period and defaults under certain of its senior debt instruments

Company to initiate restructuring proceedings under the ccaa montreal , dec. 17, 2024 /prnewswire/ - the lion electric company (nyse: lev) (tsx: lev) ("lion" or the "company"), a leading manufacturer of all-electric medium and heavy-duty urban vehicles, announced today the expiry of the previously announced covenant relief period under its senior revolving credit agreement entered into with a syndicate of lenders represented by national bank of canada, as administrative agent and collateral agent, and including bank of montreal and federation des caisses desjardins du quÉbec (the "revolving credit agreement"), as well as the maturity of the company's loan agreement entered into with finalta capital fund, l.p., as lender and administrative agent, and caisse de dÉpÔt et placement du quebec (through one of its subsidiaries), as lender (the "finalta cdpq loan agreement").
LEV Ratings Summary
LEV Quant Ranking