Jean Coutu to refinance bank debt by end of the year, CFO says

By Aleesia Forni

Columbus, Ohio, Oct. 4 - Jean Coutu Group (PJC) Inc. plans to refinance its credit facility before the end of the current calendar year, according to senior vice president, finance and corporate affairs André Belzile.

As of Aug. 27, the company reported total debt of $184.4 million.

The company also reported a debt to total capitalization ratio of 23.7% and a leverage ratio of 0.62 times as of Aug. 27.

"The company's debt ratios are still very conservative," Belzile said during the company's second quarter fiscal 2012 results conference call.

The company reported cash flow related to investing activities of $8.6 million during the second quarter, due in part to the $22 million in proceeds from the disposal of Rite Aid Corp. shares.

Cash flow related to financing activities was negative $33.7 million, due in part to a decrease of the company's revolving credit facility of $39.9 million and dividends of $13.6 million.

Jean Coutu is a Longueuil, Quebec-based chain of pharmacy stores.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.