Business Development Bank of Canada enters into C$60M credit agreement with Sierra Wireless

On January 19, 2022, the Business Development Bank of Canada (BDC) and CIBC Innovation Banking entered into a C$60 million credit agreement with Sierra Wireless, Inc. (Sierra Wireless). The debt facility has a term of four years and will give additional liquidity to Sierra Wireless' balance sheet.

BDC is a Canadian crown corporation focused on investments and financial support for Canada's small and medium-sized businesses.

Sierra Wireless is a multinational wireless communications equipment designer and manufacturer headquartered in Richmond, British Columbia, Canada.

McCarthy Tétrault advised BDC with a team led by Richard O'Doherty and Andrea Kareclas that included Nicole Morin (Business).