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BRIEF-Autocanada Enters Credit Agreement Providing Credit Facilities of Up To $1.08 Bln

Published 2018-03-20, 06:38 p/m
© Reuters.  BRIEF-Autocanada Enters Credit Agreement Providing Credit Facilities of Up To $1.08 Bln
ACQ
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March 20 (Reuters) - Autocanada Inc ACQ.TO :

* AUTOCANADA ANNOUNCES NEW EXPANDED CREDIT FACILITY

* ‍ENTERED INTO CREDIT AGREEMENT PROVIDING SECURED CREDIT FACILITIES UP TO $1.08 BILLION

* NEW FACILITY REPLACES CO'S EXISTING $550 MILLION SYNDICATED FLOORPLAN FACILITY & $250 MILLION SYNDICATED REVOLVING CREDIT AGREEMENT​

* ‍KEY FINANCIAL COVENANTS ASSOCIATED WITH NEW FACILITY ARE SIMILAR TO EXISTING FACILITIES THAT ARE BEING REPLACED​

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