The North West Company Inc. Closes Senior Notes and Loan Facilities Financing
September 27 2017 - 11:13AM
(TSX:NWC): The North West Company Inc. (the “Company”) is pleased
to announce the closing of the previously announced issuance of
CAD$100.0 million 3.74% senior notes. The financing was
completed by private placement and the proceeds will be used for
general corporate purposes and to reduce the amount outstanding on
revolving bank loan facilities. These senior notes, which
mature on September 26, 2029, are secured by a floating charge on
certain assets of the Company and rank pari passu with the
Company’s other senior debt.
The Company is also pleased to announce the
extension of the maturity date of the CAD$300.0 million and US$52.0
million loan facilities to September 26, 2022.
About The North West CompanyThe
North West Company Inc., through its subsidiaries, is a leading
retailer of food and everyday products and services to rural
communities and urban neighbourhoods in Canada, Alaska, the South
Pacific and the Caribbean. The Company operates 243 stores under
the trading names Northern, NorthMart, Giant Tiger, Alaska
Commercial Company, Cost-U-Less and RiteWay Food Markets and has
annualized sales of approximately CAD$1.8 billion.
The common shares of The North West Company Inc. trade on the
Toronto Stock Exchange under the symbol “NWC”.
For more information contact:
Edward Kennedy, President and Chief Executive
Officer, The North West Company Inc.Phone 204-934-1482; fax
204-934-1317; email ekennedy@northwest.ca
John King, Executive Vice-President and Chief
Financial Officer, The North West Company Inc.Phone 204-934-1397;
fax 204-934-1317; email jking@northwest.ca
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