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| Home : Bri-Chem Increases Credit Facility to $90 Million |
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Nov 21
2013 |
Bri-Chem Increases Credit Facility to $90 Million |
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EDMONTON, ALBERTA--(Marketwired - Nov. 21, 2013) - Bri-Chem Corp. ("Bri-Chem" or "Company") (TSX:BRY), a leading North American wholesale distributor and manufacturer of oil and gas drilling fluids and steel pipe, is pleased to announce that it has increased and extended its Asset Based Lending Facility ("ABL Facility") by $10 million from $80 million to $90 million with Canadian Imperial Bank of Commerce and HSBC Bank Canada. In addition to increasing the size of the ABL Facility, the term was extended from August 12, 2014 to August 12, 2016. The amended ABL Facility offers more favourable terms and interest rates and as well provides the Company with additional financial resources at cost efficient and flexible terms to support the Company's future growth. |
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| Source:http://www.marketwired.com/mw/release.do?id=1855090&sourceType=3 |
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