Andrew Peller entered into a $275 million asset-backed lending credit facility led by Bank of Montreal as administrative agent and co-lead arranger alongside Royal Bank of Canada as co-lead arranger. The credit facility will mature on June 13, 2027, and replaces the company’s existing credit facility entered into on Dec. 8, 2020.
“The closing of this facility in this uncertain financial market is a testament to the continued strength and sustainability of our Company,” John Peller, CEO of Andrew Peller, said. “Moving to an asset backed facility allows us to unlock the value of our assets while driving significant interest savings annually.”
Andrew Peller will use the proceeds from the credit facility to fund its working capital needs, acquisitions and other general corporate purposes.
