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| Home : Black Diamond Group Increases Credit Facilities |
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Jan 08
2013 |
Black Diamond Group Increases Credit Facilities |
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CALGARY, ALBERTA--(Marketwire - Jan. 7, 2013) - Black Diamond Group Limited ("Black Diamond" or the "Company") (TSX:BDI) is pleased to announce an increase in its credit facilities with its banking syndicate. Aggregate facilities in the amount of $145 million replace the previous $125 million in credit facilities. The Company has increased its Committed Revolving Operating facility to $15 million from $10 million, and has increased its Committed Capital Expenditure facility to $130 million from $115 million. The commitment periods for both facilities have been extended by two years to now mature December 31, 2015. These facilities are secured by substantially all of the assets of the Company and include customary terms and conditions. Financial covenants have been relaxed from that previously in place and the credit facilities' interest rates have been reduced in recognition of the Company's strong financial performance. The increase in the credit facilities is expected to be used to facilitate future growth initiatives of Black Diamond. |
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| Source:http://www.marketwire.com/mw/release.do?id=1743048&sourceType=3 |
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