Business
Canlan Ice Sports Corp. Announces $50 Million Re-Financing
BURNABY, BC, July 31 /CNW/ - Canlan Ice Sports Corp. ("Canlan") is pleased to announce that it ha...
About this update from Canlan Ice Sports Corp.
[{"type":"text","content":"\n\n\n\nBURNABY, BC, July 31 /CNW/ - Canlan Ice Sports Corp. ("Canlan") is\npleased to announce that it has re-financed its long-term debt currently held\nwith HSBC Bank Canada that was coming due on September 30, 2008. HSBC has\nre-financed $20 million of Canlan's debt for a three year term, and Integrated\nAsset Management Corp. (TSX:IAM) and its private corporate debt group,\nIntegrated Private Debt Corp., has financed the remaining $30 million for a\nten year term.\n\n\nGrant Ballantyne, President and CEO of Canlan, stated, "Canlan is\ndelighted that we are continuing our relationship with HSBC, and that we are\nre-establishing our relationship with Integrated Asset Management. The new\nloans will provide Canlan with increased cash flow, which will allow us to\npursue other opportunities."\n\n\nCanlan Ice Sports Corp. is the largest private sector operator of\nrecreational ice facilities in North America, with 63 playing surfaces at\n21 facilities owned and/or managed in Canada and the United States. Through\nthe Adult Safe Hockey League, Canlan operates the largest adult recreational\nhockey league in North America, with more than 55,000 players. Canlan also\noffers a variety of other programs, including youth leagues and hockey and\nfigure skating academies and tournaments.\n\n\nCanlan is listed on the TSX under the symbol "ISE".\n\n\n","length":1432,"tagName":"div"}]