Raleigh, N.C. – September 24, 2026 -- Cardinal Infrastructure Group Inc. (Nasdaq: CDNL) has expanded its total credit facility commitments to $550 million after its subsidiary, Cardinal Civil Contracting, LLC, signed a second amendment to its senior secured credit agreement.
New $250 million delayed draw term loan targets acquisitions
The amendment adds a delayed draw term loan facility of up to $250 million, which the company can access in as many as five separate advances over 18 months through March 2028. Cardinal intends to use the proceeds to finance permitted acquisitions and related fees and expenses. The facility remained undrawn at the completion of syndication.
Revolving credit facility rises to $100 million from $75 million
The amended revolver includes a $10 million letter of credit sub-facility and a $10 million swingline sub-facility, both available for working capital and general corporate purposes. Combined with the existing $200 million Term Loan A, the three facilities bring Cardinal's total committed capacity to $550 million, with the new commitments additive to existing incremental capacity.
All three facilities mature September 10, 2031
The revolver, Term Loan A and delayed draw term loan share a uniform maturity date of September 10, 2031. Cardinal disclosed additional terms of the amendment in a Form 8-K filed with the U.S. Securities and Exchange Commission on September 11, 2026.
Executives frame the facility as fuel for disciplined expansion
"This financing gives us the flexibility to expand our capabilities and geographic reach through disciplined acquisitions, while continuing to serve our customers by leveraging our differentiated in-house teams and equipment,