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AutoCanada lenders extend increase in maximum debt to EBITDA ratio
By Wendy Van Sickle
Columbus, Ohio, July 29 – AutoCanada Inc. said the lenders under its syndicated credit facility dated March 20, 2018 have agreed to extend the previously granted increase to the maximum permitted total fund debt to EBITDA ratio.
In September 2018, the lenders agreed to increase the ratio to 4.50 to 1.00 from 4.00 to 1.00 for the period from Sept. 1, 2018 to June 30, 2019.
The increase in the ratio will now be extended until March 31, 2020, after which the ratio will revert to 4.00 to 1.00, according to a press release.
AutoCanada is an automobile dealership group based in Edmonton, Alta.
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