Andrew Peller Limited Announces New Credit Facility
13 Giugno 2023 - 11:26PM
Andrew Peller Limited (ADW.A / ADW.B) is pleased to announce that
the Company has entered into a $275 million Asset Backed Lending
credit facility effective June 13, 2023, maturing on June 13,
2027. Led by Bank of Montreal, as administrative agent and
co-lead arranger, alongside Royal Bank of Canada, as co-lead
arranger, the credit facility replaces the Company’s existing
credit facility entered into on December 8, 2020.
“The closing of this facility in this uncertain
financial market is a testament to the continued strength and
sustainability of our Company,” said John Peller, Chief Executive
Officer. “Moving to an asset backed facility allows us to unlock
the value of our assets while driving significant interest savings
annually.”
Andrew Peller Limited anticipates it will use
the proceeds from the credit facility to fund its working capital
needs, acquisitions and other general corporate purposes.
Andrew Peller Limited (ADW.A / ADW.B) will issue
its financial results for the three months and year ended March 31,
2023 on the afternoon of June 14, 2023. A telephone conference call
hosted by John Peller, Chief Executive Officer and Paul Dubkowski,
Chief Financial Officer will be held Thursday, June 15, 2023 at
10.00 am ET.
About Andrew Peller Limited Andrew Peller
Limited is one of Canada’s leading producers and marketers of
quality wines and craft spirits. The Company’s award‐winning
premium and ultra‐premium Vintners’ Quality Alliance (“VQA”) brands
include Peller Estates, Trius, Thirty Bench, Wayne Gretzky,
Sandhill, Red Rooster, Black Hills Estate, Tinhorn Creek, Gray Monk
Estates, Raven Conspiracy and Conviction. Complementing these
premium brands are a number of popularly priced varietal offerings,
wine based liqueurs, craft ciders, beer and craft spirits. The
Company owns and operates 101 well‐positioned independent retail
locations in Ontario under The Wine Shop, Wine Country Vintners,
and Wine Country Merchants store names. The Company also operates
Andrew Peller Import Agency and The Small Winemaker’s Collection
Inc., importers and marketing agents of premium wines from around
the world. With a focus on serving the needs of all wine consumers,
the Company produces and markets premium personal winemaking
products through its wholly‐owned subsidiary, Global Vintners Inc.
(“GVI”), the recognized leader in personal winemaking products.
More information about the Company can be found at
ir.andrewpeller.com
Forward-Looking StatementsCertain statements in
this news release may contain “forward‐looking statements” within
the meaning of applicable securities laws, including the “safe
harbour provision” of the Securities Act (Ontario) with respect to
Andrew Peller Limited and its subsidiaries. These forward‐looking
statements are subject to the risks and uncertainties discussed in
the “Risks and Uncertainties” section and elsewhere in the
Company’s MD&A and other risks detailed from time to time in
the publicly filed disclosure documents of Andrew Peller Limited
which are available at www.sedar.com. Forward‐looking statements
are not guarantees of future performance and involve risks,
uncertainties, and assumptions which could cause actual results to
differ materially from those conclusions, forecasts, or projections
anticipated in these forward‐looking statements. The Company’s
forward‐looking statements are made only as of the date of this
news release, and except as required by applicable law, the Company
undertakes no obligation to update or revise these forward‐looking
statements to reflect new information, future events or
circumstances or otherwise.
For more information, please contact: Paul Dubkowski, CFO and
Executive Vice-President, IT (905) 643-4131 Source: Andrew Peller
Limited
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