AutoCanada entered into a new credit agreement providing secured credit facilities of up to $1.08 billion, subject to certain conditions precedent to funding. Scotiabank led the facility, with CIBC, RBC, HSBC and ATB participating in the syndicate.
AutoCanada entered into an amended and restated credit agreement with HSBC Bank Canada, Alberta Treasury Branches and Royal Bank of Canada, with HSBC Bank Canada acting as administrative agent for the lenders.
AutoCanada announced it entered into a new flooplan facility totaling $550 million, with Scotiabank as lead syndicate partner and agent. The financing supports the company’s dealership acquisition efforts.