Cardinal Infrastructure Group Expands Credit Facility to $550 Million
Cardinal Infrastructure Group Inc. announced on September 24, 2026, that it has amended and expanded its credit facility, adding a $250 million delayed draw term loan and increasing its revolving credit line.
RALEIGH, N.C. – Cardinal Infrastructure Group Inc. announced an expansion and amendment to its senior secured credit agreement, significantly increasing its financial flexibility. The company's subsidiary, Cardinal Civil Contracting, LLC, entered into the second amendment which raises the total committed credit facility to $550 million.
The amendment includes a new $250 million delayed draw term loan facility, intended for financing permitted acquisitions and related expenses. This new loan facility remains undrawn at the time of the announcement. Additionally, the revolving credit facility has been increased from $75 million to $100 million, available for working capital and general corporate purposes.
The $550 million total facility comprises the $100 million revolving credit line, the existing Term Loan A (originally $200 million), and the new $250 million delayed draw term loan. All components of the facility mature on September 10, 2031.
Cardinal's CEO, Jeremy Spivey, stated that the financing provides the flexibility to expand the company's capabilities and geographic reach through disciplined acquisitions. CFO Mike Rowe added that the amendment provides necessary capital for selective acquisitions while maintaining a disciplined balance sheet approach. The company anticipates using the new funds for strategic growth.
Cardinal Infrastructure Group Inc. is a full-service infrastructure services provider in the Southeastern United States, focusing on civil and site development solutions.