National Bank of Canada led a banking syndicate on a $75 million upsize to Park Lawn’s financing arrangement, increasing the borrowing capacity from $150 million to $225 million.
Bank of America joined the syndicate on the upsize. Bank of Montreal and TD Bank also participated.
The additional credit will provide PLC with further flexibility as it continues to pursue its growth strategy. In particular, the revolving credit facility will allow PLC to capitalize on organic projects and acquisition opportunities as they arise, while maintaining a prudent approach to leverage.
“We are pleased to continue growing our relationship with National Bank, BMO and TD and develope a new relationship with Bank of America. I am confident that this transaction will enhance our success as we continue to grow our business in both Canada and the United States,” said Andrew Clark, Park Lawn chairman and CEO.
Park Lawn provides goods and services associated with the disposition and memorialization of human remains in Canada and the United States.
