Transcontinental said it signed two new financing agreements, totaling $135 million. One is a five-year loan of $50 million through the Societe Generale de Financement du Quebec, and the other is a six-year loan for $85 million through European bank HypoVereinsbank, which Transcontinental said will be used to buy production equipment over the next two years.
Transcontinental also obtained an additional $25 million in the one-year credit facilities recently arranged with its bank syndicate. This amount is in addition to the $125 million previously announced on May 5, 2009.
Transcontinental last week said it would purchase four Commander CT presses from Koenig & Bauer AG to support production of The (Toronto) Globe and Mail (see Dateline, July 29, 2009).
Monday, August 3, 2009
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