Uni-Select says it has reached an agreement with its banking syndicate to amend and extend its credit facility.
Previously, the credit facilities included a $525 million revolving credit facility with a four-year repayment schedule. The new agreement combines these two facilities into one revolving credit facility of $625 million with a five-year maturity, extending it by one year.
“We are very pleased to have amended our credit facilities from the combination of a revolving credit facility and term loan into one revolving credit facility of $625 million. This new agreement provides us with greater flexibility to manage our working capital requirements and deleveraging objective. Finally, we are pleased to have the continued commitment and support of our banking syndicate,” said Eric Bussieres, Chief Financial Officer, Uni-Select.