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Magellan Aerospace Corporation Announces Entering Into an Amended and Restated Credit Agreement
Magellan Aerospace Corporation Announces Entering Into an Amended and Restated Credit Agre...
About this update from Magellan Aerospace Corporation
[{"type":"text","content":"\n\n\n\nMagellan Aerospace Corporation Announces Entering Into an Amended and Restated Credit Agreement\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nTORONTO, Sept. 14, 2018\n\n\n\nTORONTO, Sept. 14, 2018 /CNW/ - Magellan Aerospace Corporation (\"Magellan\" or the \"Corporation\") announces that it has amended and restated its operating credit agreement with its existing lenders in order to provide revolving loan facilities for Magellan for a two year period.\nUnder the terms of the amended operating credit agreement, Magellan and the lenders have entered into a multi-currency revolving credit agreement with a maximum commitment amount of Cdn. $75 million, with a Cdn. $75 million accordion provision which will provide Magellan with the option to increase the size of the operating credit facility to approximately Cdn. $150 million.  The maturity date of the facility has been extended to September 13, 2020.  Extensions of the facility are subject to mutual consent of the syndicate of lenders and the Corporation.  \nAbout Magellan Aerospace \nMagellan Aerospace is a global aerospace company that provides complex assemblies and systems solutions to aircraft and engine manufacturers, and defense and space agencies worldwide. Magellan designs and manufactures aeroengine and aerostructure assemblies and components for aerospace markets, advanced proprietary products for military and space markets, and provides engine and component repair and overhaul services worldwide. Magellan is a public company whose shares trade on the Toronto Stock Exchange (TSX: MAL), with operating units throughout North America, Europe, and India.\nForward Looking Statements\nSome of the statements in this press release may be forward-looking statements or statements of future expectations based on currently available information. When used herein, words such as \"expect\", \"anticipate\", \"estimate\", \"may\", \"will\", \"should\", \"intend\", \"believe\", and similar expressions, are intended to identify forward-looking statements. Forward-looking statements ...