Buhler Industries Announces New $100M Credit Facility
WINNIPEG, March 28, 2014 /CNW/ - Buhler Industries Inc. (Buhler Industries) is pleased to announce that it has secured a new $100 million credit facility for its operations. The facility is a one year committed revolving operating line of credit and replaces two operating facilities of $67.5 million. The operating facility is a club agreement equally shared and provided by the Bank of Montreal and the Bank of Nova Scotia. In addition, Buhler Industries has an existing line of credit with Export Development Canada for $20 million.
The revolving facility will be used to finance operations including investment in research and development and may be used, under certain conditions, for potential acquisitions. The facility is secured by a general security agreement and assignment of specific receivables and inventory in Canada and the United States.
About Buhler Industries
Buhler Industries is headquartered in Winnipeg, Manitoba, Canada and is a publically traded Company on the TSX (TSX: BUI). The Company manufactures and distributes its product through several brand names including Versatile and Farm King. The Versatile line of equipment consists of tractors, sprayers, combines, tillage and air seeders. Farm King supplies augers, mowers, bale carriers, snowblowers, compact implements, sprayers, tillage and front end loaders. The Company has manufacturing facilities and warehouses in both Canada and the United States.
SOURCE Buhler Industries Inc.For further information: Willy Janzen, Chief Financial Officer, Phone: (204) 654-5718, E-mail: email@example.com; Trading symbol: BUI