Maple Leaf refinances debt
TORONTO, Ontario – Maple Leaf Foods increased its existing revolving credit facility by $250 million, raising the total facility to $1.05 billion and will extend the maturity of the facility by one year, the company announced Oct. 31.
The unsecured facility will continue to bear interest based on short-term rates, the company said. The financing matures on May 16, 2016 and increases the weighted average term of Maple Leaf’s debt to more than four years. Money from the facility will be used for general corporate purposes, the company said.