Business
POLLARD BANKNOTE ANNOUNCES RENEWAL AND EXPANSION OF ITS CREDIT FACILITY
POLLARD BANKNOTE ANNOUNCES RENEWAL AND EXPANSION OF ITS CREDIT FACILITY Canada NewsWire...
About this update from Pollard Banknote Limited
[{"type":"text","content":"\n\n\n\n POLLARD BANKNOTE ANNOUNCES RENEWAL AND EXPANSION OF ITS CREDIT FACILITY\n \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 Canada NewsWire\n \n\n\n\n\n\n WINNIPEG, MB\n \n\n ,\n \n\n Jan. 9, 2025\n \n\n /CNW/ -\n \n Pollard Banknote Limited\n \n \"Pollard Banknote\"; (TSX: PBL) is pleased to announce that Pollard Banknote and its syndicate of lenders have executed a renewal of its secured revolving credit facility (the \"Facility\"). Under the renewal, the term has been extended by three years, now maturing on\n \n December 31, 2028\n \n . As well, the Facility size has been increased by\n \n $50 million\n \n , to a total of\n \n $291 million\n \n , with an accordion feature which can increase the Facility by an additional\n \n $50 million\n \n . The Facility will be available for general working capital purposes, ongoing investments in capital expansion, including continuing investment in the growing iLottery space, and to assist in financing future acquisitions.\n \n\n\n\n\n\n\n\n\n \"We would like to thank our lenders for their continued support and confidence in our organization,\" commented\n \n John Pollard\n \n , Co-Chief Executive Officer of Pollard Banknote. \"The upsize to the credit facility will position Pollard Banknote well as it provides additional capacity and flexibility to help fund ongoing investments in our growth initiatives.\"\n \n\n The Facility is secured by Pollard Banknote's assets and guarantees by certain of its subsidiaries. The terms and conditions of the Facility are set out in the Seventh Amended and Restated Loan Agreement that will be filed on SEDAR. The lending institutions participating in the Facility include The Toronto-Dominion Bank as administrative agent and Lead Arranger and Bookrunner, Bank of\n \n Montreal\n \n , and Canadian Western Bank.\n \n\n\n About Pollard Banknote\n \n\n\n Pollard Banknote is a leading lottery partner to more than 60 lotteries worldwide, providing high-quality instant ticket products, licensed games, in-lane ticket options, and sales-driving merchandising solutions from its Schafer Retail Sol...