ONroute, the exclusive provider of highway rest services across Ontario, Canada, has completed the refinancing of its existing senior debt facilities and appointed a new CEO.
The company has secured a C$250 million ($180 million) bond with improved overall debt pricing, alongside a revolving credit facility to support a number of identified commercial growth initiatives, which the business plans to introduce from 2026 onward. The refinancing follows consecutive record trading performance for ONroute in 2024 and 2025.
ONroute has been majority-controlled by Arjun Infrastructure Partners since 2019. The business has been on a positive growth path since the COVID-19 pandemic, when highway traffic volumes and subsequent levels of customers turning into the ONroute sites were severely impacted.
With traffic volumes returning to normal levels in the years post-COVID, Arjun made the decision to simultaneously invest in a number of commercial development opportunities.
