North West ups revolvers to C$400 million, $52 million, extends to 2027

By Marisa Wong

Los Angeles, March 3 – The North West Co. Inc. announced it refinanced its C$300 million and $52 million loan facilities originally maturing Sept. 26, 2022.

The newly increased committed revolving loan facilities, with the existing lenders, provide the company with up to C$400 million and $52 million for working capital and general corporate purposes, according to a press release.

The Canadian-dollar facilities have a floating interest rate based on Bankers Acceptances rates plus stamping fees, or the Canadian prime interest rate. The U.S. dollar facilities have a floating interest rate based on Libor or an alternative reference rate plus a spread.

These loan facilities mature March 1, 2027 and rank pari passu with the company’s other senior debt.

North West is a Winnipeg, Man.-based retailer of food and everyday products and services to rural communities and urban neighborhoods in Canada, Alaska, the South Pacific and the Caribbean.

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