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Transcontinental renews credit facilities of $125 million

Wednesday, May 06, 2009

Press release from the issuing company

MONTREAL  - Transcontinental Inc. today announced that it has reached an agreement with its bank syndicate to renew credit facilities of $125 million for one year, giving it additional leeway in managing its working capital and capital expenditures or to meet any other specific need. "Given the current financial context, we are especially proud to have finalized the renewal of these credit facilities," stated Beno"t Huard, Vice President and Chief Financial Officer of Transcontinental. "This agreement once again confirms the financial market's confidence in our company and its financial strength, as well as its recognition of our development strategy and our outlook for the future. Finally, we are well on our way to reaching other financing agreements very soon, which will provide us with even more flexibility."

 

 

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