HSBC Bank Provides $40MM Facility to Supremex
Supremex announced a new $40 million credit facility with HSBC Bank Canada. The three-year facility consists of a $15 million operating facility and a $25 million non-revolving term loan.
Stewart Emerson, president and CEO of Supremex, stated, “This credit facility, which replaces the company’s previous syndicated facility, provides us with improved covenants, greater flexibility and the opportunity to reduce our borrowing costs. The terms of this credit facility reflect the company’s improved financial performance, positive business outlook and ability to generate significant free cash flow.”
Canada-based Supremex is a manufacturer and marketer of a broad range of stock and custom-manufactured envelopes and provider of packaging and related products.