Shawcor closed on a four-year, $300 million senior secured revolving credit facility. TD Bank and National Bank Financial acted as co-lead arrangers and HSBC Bank Canada, JPMorgan Chase Bank and Export Development Bank acted as lenders for the facility.
“We remain focused on strengthening our balance sheet to provide the financial flexibility required to effectively manage our business,” Mike Reeves, president and CEO of Shawcor, said. “The combination of our recently executed bond placement and the new revolving bank facility positions Shawcor to further accelerate the profitable growth of our high value, materials technology-based businesses both organically and with opportunistic acquisitions.”
Shawcor is a material sciences company serving the infrastructure, energy and transportation markets.