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WINNIPEG, Dec. 24, 2015 /CNW/ - Lakeview Hotel Investment Corp ("LHIC") announces that it has amended its credit agreement with a syndicate of lenders led by Alberta Treasury Branches and including Business Development Bank of Canada (BDC) and Roynat Capital. The credit agreement, which was announced by press release on August 25, 2014, provided for a facility of $48 million and was for a five year term.
Pursuant to an amending agreement the lenders have agreed, among other things, to amend certain covenants related to LHIC's consolidated debt service coverage ratio and its properties-based debt service coverage ratio, waive the principal payments for Q4 2015 and Q1 2016, and extend the amortization of the term portion of the facility.
Lakeview Hotel Investment Corp is listed on the TSX Venture Exchange under the symbol "LHR". Lakeview Hotel Investment Corp receives income from ownership, management and licensing of hotel properties.
The TSX Venture Exchange nor its Regulation Service Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Lakeview Hotel Investment Corp
For further information: Avrum Senensky, Executive Vice President, Tel: (204) 947-1161, Fax: (204) 957-1697, Email email@example.com