RBC Capital Markets Arranges Methanex Revolver Renewal
Methanex Corporation announced that it has renewed its $400 million revolving credit facility with a syndicate of banks. The renewed facility expires in December 2019 and replaces the company’s existing revolving facility, which would have expired in December 2016. RBC Capital Markets was the arranger for the facility.
Ian Cameron, SVP Finance and CFO of Methanex, commented, “Consistent with our prudent approach to financial management, we are committed to maintaining strong liquidity. With cash balances of $475 million at the end of the third quarter, cash proceeds from the recent $600 million bond issuances and this undrawn $400 million credit facility, we believe we are well positioned to meet our financial commitments and invest to grow the company.”
Vancouver-based Methanex is a supplier of methanol to major international markets.