What that means? Chorus Aviation Extends and Amends Committed Operating Credit Facility
MIDNIGHTTRADER - Updated 1 hour ago
07:21 AM EST, 01/30/2023 (MT Newswires) -- Chorus Aviation (CHR.TO) over the weekend said it has amended its existing committed operating credit facility with The Bank of Nova Scotia as lender, sole lead arranger, bookrunner, administrative agent and issuing bank, and the Canadian Imperial Bank of Commerce and the Bank of Montreal as lenders.
The amended facility extends the maturity date of the credit facility for an additional 15 months from Oct. 14, 2024 to Jan. 27, 2026 and adds a $50 million uncommitted accordion feature, the regional aviation company said.
The amended facility provides Chorus and certain subsidiaries including Chorus Aviation Capital Corp., Jazz Aviation LP and Voyageur Aviation Corp. with a committed limit of up to $100 million, subject to a borrowing base calculation, plus a $50 million uncommitted accordion.