Shawcor Announces Closing of Credit Facility
14 January 2022 - 9:01AM
Shawcor Ltd. (“Shawcor” or the “Company”) (TSX: SCL) today
announced that it has successfully closed on the previously
announced credit facility (the “Credit Facility”) with
Toronto-Dominion Bank and National Bank Financial as co-lead
arrangers and HSBC Bank Canada, JP Morgan Chase Bank and Export
Development Bank as lenders. The Credit Facility provides for a
US$300 million, four-year senior secured revolving facility.
“We remain focused on strengthening our balance
sheet to provide the financial flexibility required to effectively
manage our business,” said Mike Reeves, Shawcor’s President and
CEO. “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.”
About Shawcor
Shawcor Ltd. is a growth-oriented, global
material sciences company serving the Infrastructure, Energy, and
Transportation markets. The Company operates through a network of
fixed and mobile manufacturing and service facilities. Its three
business segments, Composite Systems, Automotive & Industrial
and Pipeline & Pipe Services enable responsible renewal and
enhancement of critical infrastructure while lowering risk and
environmental impact.
For further information, please contact:
Meghan MacEachernExternal Communications & ESG,
DirectorTelephone: 437.341.1848Email:
meghan.maceachern@shawcor.comshawcor.com
Forward Looking Information
This news release contains forward-looking information within
the meaning of applicable securities laws. Words such as "may",
"will", "should", "anticipate", "plan", "expect", "believe",
"predict", "estimate" or similar terminology are used to identify
forward-looking information. This forward-looking information is
based on assumptions, estimates and analysis made in the light of
the Company's experience and its perception of trends, current
conditions and expected developments, as well as other factors that
are believed by the Company to be reasonable and relevant in the
circumstances. Forward-looking information involves known and
unknown risks, uncertainties and other factors which may cause
actual results, performance or achievements to be materially
different from those predicted, expressed or implied by the
forward-looking information. The forward-looking information is
provided as of the date of this news release and the Company does
not assume any obligation to update or revise the forward-looking
information to reflect new events or circumstances, except as
required by law.
Source: Shawcor Ltd.
25 Bethridge RoadToronto, OntarioM9W 1M7 Canada
o +1 416 743 7111f
+1 416 743 7199Shawcor.com
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