News
CAE secures three-year credit facility
April 6, 2010, Montreal - CAE announced today the conclusion of an agreement to refinance its existing credit facility due to expire in July 2010. The new agreement is a committed three-year revolving credit facility of US$ 450 million with an option to increase to a total amount of up to US$ 650 million.
April 6, 2010 By CNW
Scotia Capital and TD Securities are lead arrangers for the new credit facility, which includes a syndicate of 11 Canadian, U.S., and international banks.
"The commitment of our banking syndicate shows continued support of CAE's market leadership in simulation and modelling technologies and integrated training solutions, and acknowledges our sound financial position," said Alain Raquepas, CAE's Chief Financial Officer.
The new revolving credit facility will expire in April 2013. It maintains CAE's borrowing flexibility and provides continued liquidity within a strong capital structure. The facility will be used for general corporate purposes and to facilitate growth opportunities.
