Wajax increases bank credit facility to $300 million
TSX Symbol: WJX
TORONTO, Dec. 7, 2012 /CNW/ - On December 7, 2012, Wajax increased the limit of its bank credit facility by $75 million on substantially the same terms and conditions as the existing facility. The fully secured facility, due August 12, 2016, is now comprised of an $80 million non-revolving term portion and a $220 million revolving term portion. At September 30, 2012, Wajax had utilized $129 million of the facility.
Commenting on the increase, Mark Foote, President and CEO, stated: "In addition to taking advantage of the currently favourable borrowing conditions, the $75 million increase will provide Wajax with additional borrowing capacity to fund future growth, including increases in working capital and acquisitions."
Wajax Corporation is a leading Canadian distributor and service support provider of mobile equipment, power systems and industrial components. Reflecting a diversified exposure to the Canadian economy, its three distinct core businesses operate through a network of 119 branches across Canada. Its customer base spans natural resources, construction, transportation, manufacturing, industrial processing and utilities.
SOURCE Wajax Corporation
More by this Source
Wajax announces pricing of new issuance of senior notes due 2020
Oct 18, 2013, 08:01 ET
Wajax Announces Senior Note Offering and Provides Preliminary 2013 Third Quarter Results
Oct 09, 2013, 07:44 ET
Wajax Announces 2013 Second Quarter Earnings
Aug 09, 2013, 08:07 ET
Browse our custom packages or build your own to meet your unique communications needs.
Learn about PR Newswire services
Request more information about PR Newswire products and services or call us at (888) 776-0942.