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Supremex announces new $115 million credit facility
Supremex announces new $115 million credit facility Canada NewsWire MONTREAL, Ma...
About this update from Supremex Inc.
[{"type":"text","content":"\n\n\n\nSupremex announces new $115 million credit facility\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\nMONTREAL, May 8, 2019\n\n\n\nMONTREAL, May 8, 2019 /CNW Telbec/ - Supremex Inc. (\"Supremex\" or the \"Company\") (TSX: SXP), a leading North American manufacturer and marketer of envelopes and a growing provider of paper-based packaging solutions, today announced the closing of a new four-year senior secured credit facility of $115 million composed of a $80 million line of credit and a $35 million term loan. This facility will replace Supremex existing $75 million revolving credit facility. The refinancing was arranged by Bank of Montreal, as Lead Arranger & Administration Agent, with the participation of Desjardins Capital Markets and National Bank of Canada, as lenders. The credit facility will provide Supremex with improved terms & conditions as well as increased availability in support of its growth objectives.\n\"This new credit facility provides significant financial flexibility to execute our growth and diversification strategy. Since 2014 we have successfully diversified our activities outside of Canada, grown our packaging offering and we continue to look for further diversification and/or consolidation opportunities to support our long term profitability objectives. As always, we remain focused on maintaining our financial discipline, operational efficiency and optimizing our capital allocation to maximize shareholder returns,\" said Stewart Emerson, President & CEO of Supremex.  \nForward-Looking Information \nThis press release contains \"forward-looking information\" within the meaning of applicable Canadian securities laws, including (but not limited to) statements about the EBITDA, Adjusted EBITDA and future performance of Supremex and similar statements or information concerning anticipated future results, circumstances, performance or expectations. Forward-looking information may include words such as anticipate, assumption, believe, could, expect, goal, guidance, intend, may, objective, outlook, plan, seek...