BMO 50m loanCannara announced today that it has closed on a $50M credit facility led by BMO Commercial Banking. The credit facility, effective May 31, 2022, includes a three-year term loan for $45 million with an accordion for up to an additional $10 million and a $5 million line of credit. Additional favorable terms attached to the credit facility include a declining interest rate over time as the Company hits certain covenant thresholds and the ability to repay the facility without penalty at any time.
Does somebody know what is the status of this loan?
We are april 8th 2024. Do I understand they are at close to 2/3 of the 3 years term and what is the status on the balance?