The North West Company Inc. Closes Refinancing of its Canadian and International Loan Facilities
10 Dicembre 2013 - 1:34AM
Marketwired
The North West Company Inc. Closes Refinancing of its Canadian and
International Loan Facilities
WINNIPEG, MANITOBA--(Marketwired - Dec 9, 2013) - The North West
Company Inc. (TSX:NWC) ("North West") today announced the closing
of the previously announced refinancing of the $170 million loan
facilities in its Canadian Operations and the US$52 million loan
facilities in its International Operations.
The new, increased, committed Canadian loan facilities, which
are being provided by the lenders of the existing facilities,
provide North West with a combined $200 million revolving loan
facility for working capital requirements and general corporate
purposes. The new facilities mature on December 31, 2018, bear a
floating rate of interest, and are secured by a floating charge
against the assets of North West ranking pari passu with
its other senior debt.
The new, committed International loan facilities, which are
being provided by the lenders of the existing facilities, provide
North West with a US$52 million revolving loan facility for working
capital and general corporate purposes. The new facilities mature
on December 31, 2018, bear a floating rate of interest, and are
secured by a floating charge against the assets of North West
ranking pari passu with its other senior debt.
Company
Profile
The North West Company Inc., through its subsidiaries, is a
leading retailer of food and everyday products and services to
rural communities and urban neighbourhoods in Canada, Alaska, the
South Pacific and the Caribbean. North West operates 226 stores
under the trade names Northern, NorthMart, Giant Tiger, AC Value
Center and Cost-U-Less and has annualized sales of approximately
CDN$1.5 billion.
The common shares of North West trade on the Toronto Stock
Exchange under the symbol "NWC".
The North West Company Inc.Edward KennedyPresident and Chief
Executive Officer204-934-1482204-934-1317ekennedy@northwest.caThe
North West Company Inc.John KingChief Financial
Officer204-934-1397204-934-1317jking@northwest.caThe North West
Company Inc.Paulina HiebertVice President Legal and Corporate
Secretary204-934-1756204-934-1317phiebert@northwest.cawww.northwest.ca
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