LANGLEY,
BC, Jan. 27, 2025 /CNW/ - ADENTRA Inc.
("ADENTRA" or the "Company") (TSX: ADEN) today
announced the extension of its credit facilities.
The extension, secured with the Company's existing
administrative agent and lender Bank of America, N.A. and a
syndicate of lenders (the "Lenders"), extends the credit facilities
for five years to January 27, 2030.
The credit facilities provide the Company with US$825 million in financing capacity and is
comprised of a revolving credit facility of US$600 million and a term loan of US$225 million. The revolving credit facility can
be drawn upon in U.S. or Canadian dollars.
"The extension of the credit facilities provides us with the
financial flexibility to continue our strategic initiatives,
including the Destination 2028 plan of achieving US$3.5 billion in run-rate revenues and an
average ROIC of 12%," commented Rob
Brown, President and Chief Executive Officer. "Importantly,
this extension did not significantly change the existing terms,
ensuring stability and continuity in our financial planning,"
commented Mr. Brown.
The credit facilities bear interest at a rate equal to SOFR plus
up to 225 basis points or the base rate of interest charged by the
Lenders from time to time plus 125 basis points. The SOFR and base
rate margins for the credit facilities are subject to performance
pricing adjustments, from time to time, based on the Company's then
applicable leverage ratio.
About ADENTRA
ADENTRA is one of North
America's largest distributors of architectural building
products to the residential, repair and remodel, and commercial
construction markets. The Company operates a network of 86
facilities in the United States
and Canada. ADENTRA's common
shares are listed on the Toronto Stock Exchange under the symbol
ADEN.
SOURCE ADENTRA Inc.
