Park Lawn Corporation Announces Upsize to Credit Facility
CIBC Joins PLC’s Banking Syndicate TORONTO, ONTARIO–(November 25, 2019) – Park Lawn Corporation (TSX:PLC) (“PLC”) is pleased to announce an increase to its syndicated bank financing arrangement as well as the addition of CIBC to the syndicate led by National Bank of Canada and including Bank of Montreal, Bank of America and The Toronto-Dominion Bank. The financing arrangement increases PLC’s borrowing capacity from $175 million to $250 million. The additional credit will provide PLC with further flexibility as it continues to pursue its growth strategy. In particular, the revolving credit facility is expected to support PLC’s ability to capitalize on organic projects and acquisition opportunities as they arise, while maintaining a prudent approach to leverage. Highlights of the credit facilities include: