LONDON, ON, March 5 /CNW/ - David Taylor, President & C.E.O. of Pacific &
Western Credit Corp. (TSX:PWC), is pleased to announce that Pacific & Western
Credit Corp.'s wholly owned subsidiary, Pacific & Western Bank of Canada, has
recently agreed to provide a $22.5 million Revolving Operating Line of Credit
to De Lage Landen Financial Services Canada Inc. (DLL) to be used for working
capital purposes by DLL.
DLL is a leasing company headquartered in Oakville, Ontario, and focuses
its business on healthcare, office equipment, information technology,
materials handling and construction, and financial institutions. DLL is the
wholly owned subsidiary of De Lage Landen International B.V., which is the
wholly owned subsidiary of Netherlands based Rabobank. Rabobank is AAA- rated
by S & P, Moody's and DBRS.
Mr. Taylor stated that, "We are pleased to provide this line to De Lage
Landen, a company which continues to prove itself as a capable and competitive
lease originator. We believe the agreement will prove to be beneficial to both
Pacific & Western and De Lage Landen."
Pacific & Western Bank of Canada is wholly owned by Pacific & Western
Credit Corp., whose shares trade on the TSX under the symbol PWC.
For further information:
For further information: Investor Relations: Bruce Schruder, Vice
President, Investor Relations & Marketing, (800) 244-1509,
InvestorRelations@pwbank.com; Public Relations & Media: Tel Matrundola, Vice
President, Public & Strategic Initiatives, (416) 203-0882, email@example.com; To
receive company news releases via e-mail: Karen McConnell, (519) 675-4204,
firstname.lastname@example.org; Further information on PWC is available through Pacific &
Western's corporate web site at http://www.pwbank.com