Daily News: March 31, 2014

BMO, Scotiabank Provide $100MM Buhler Facility

Buhler Industries announced it secured a new $100 million credit facility for its operations. The facility is a one-year committed revolving operating line of credit and replaces two operating facilities of $67.5 million.

Bank of Montreal and the Bank of Nova Scotia provided the operating facility, a club agreement. In addition, Buhler Industries has an existing line of credit with Export Development Canada for $20 million.

The revolving facility will be used to finance operations including investment in research and development and may be used, under certain conditions, for potential acquisitions. The facility is secured by a general security agreement and assignment of specific receivables and inventory in Canada and the U.S.

Winnipeg, Canada-based Buhler Industries is a publically traded company on the TSX.