Lion electric secures new us$100 million credit facility

Montreal, aug. 11, 2021 /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, today announced that it has entered into a credit agreement providing for a new revolving credit facility in the maximum principal amount of us$100,000,000, with a syndicate of lenders represented by national bank of canada as administrative agent, lead arranger and sole bookrunner, and including bank of montreal and desjardins capital markets. "while our recent transaction provided us access to the capital required to accelerate our growth strategy, this new credit facility will enable us to benefit from additional funds at an attractive rate, as needed, thus strengthening our liquidity position for the long-term," said marc bedard, lion's ceo - founder.
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