Business
GENIVAR EXPANDS CREDIT CAPACITY TO C$225 MILLION UNDER NEW FACILITIES
GENIVAR EXPANDS CREDIT CAPACITY TO C$225 MILLION UNDER NEW FACILITIES
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[{"type":"text","content":"\n\n\n\n Nov. 4, 2010 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n\nMONTREAL, Nov. 4 /CNW Telbec/ - GENIVAR Income Fund ("GENIVAR")\n announced today that it has entered into new syndicated credit\n facilities, expanding the limit to its revolving credit facility from\n $80 million at the end of the second quarter to $225 million and\n extending the maturity date to 2013. The agreement also includes a\n provision to increase the new facilities from $225 million to $275\n million subject to certain conditions.\n\n\nThe credit facilities are being made available with a consortium of\n financial institutions which includes Bank of Montreal as\n Administrative Agent, Canadian Imperial Bank of Commerce as\n Documentation Agent and Banque Nationale as Syndication Agent. GENIVAR\n intends to use the funds available under these facilities for future\n acquisitions, working capital and general corporate purposes.\n\n\n"We are pleased to align ourselves with with leading financial\n institutions to strengthen GENIVAR's financial capacity and\n flexibility." said Alexandre L'Heureux, GENIVAR's Chief Financial\n Officer. With our soon to be made conversion from an income trust\n structure to a corporate structure, coupled with our strong balance\n sheet, we are confident that there will be additional opportunities for\n GENIVAR to execute on its long term strategic plan to consolidate its\n top tier Canadian platform and to pursue its global diversification\n objectives.&q...