Business
TransForce closes loan agreement with Solidarity Fund QFL
MONTREAL, May 27 /CNW Telbec/ - TransForce Inc. (TFI-T), a leader in Canada's transportation and ...
About this update from Tfi International Inc.
[{"type":"text","content":"\n\n\n\nMONTREAL, May 27 /CNW Telbec/ - TransForce Inc. (TFI-T), a leader in\nCanada's transportation and logistics industry, announces the closing of the\npreviously announced $100-million loan agreement with Solidarity Fund QFL.\n\n\nThe loan is in the form of an unsecured debenture of TFI Holdings Limited\nPartnership a wholly-owned subsidiary of TransForce Inc. and is repayable on\nOctober 30, 2013. It may be repaid, without penalty, commencing one year after\nthe date of disbursement of the loan, subject to the approval of TransForce's\nsyndicate of bank lenders. The loan bears interest at an annual rate of 9%,\npayable monthly.\n\n\nTransForce intends to use the proceeds from the loan to support its\nprogram of strategic acquisitions.\n\n\nProfile\n\n\nTransForce Inc. (www.transforce.ca) is the leader in Canada's\ntransportation and logistics industry. Headquartered in Montreal, Quebec,\nTransForce creates value for shareholders through managing and investing in a\ngrowing network of wholly-owned operating subsidiaries. TransForce provides a\ncomprehensive and unique combination of capabilities, resources and\ngeographical coverage in both domestic and trans-border markets. Its companies\ncurrently operate in five well-defined business segments:\n\n\n- Less-Than-Truckload;\n- Package and Courier;\n- Specialized Services, which includes its ancillary transportation\n services such as logistics, warehousing & dedicated services, fleet\n management & personnel services; oilfield & oilsand services, and waste\n management;\n- Specialized Truckload, and;\n- Truckload.\n\n\nTransForce's shares (TFI-T) are listed on the Toronto Stock Exchange.\n\n\nForward-Looking Statements\n\n\nExcept for historical information provided herein, this press release may\ncontain information and statements of a forward-looking nature concerning the\nfuture performance of TransForce. These statements are based on suppositions\nand uncertainties as well as on management's best possible evaluation of\nfuture events. Such factors may include, without excluding other\nconsiderations, fluctuations in quarterly results, evolution in customer\ndemand for TransForce's products and services, the impact of price pressures\nexerted by competitors, and general market trends or economic changes. As a\nresult, readers are advised that actual results m...