Swiss Water Increases Credit Facilities to Enhance Growth Potential
Swiss Water Expands Credit Facilities to Fuel Growth Opportunities
Swiss Water Decaffeinated Coffee Inc. (TSX:SWP) recently shared exciting news about its financial positioning with the renewal and expansion of its credit facilities. This move enhances the company's operational flexibility, allowing for an enhanced borrowing capacity of $80 million, a significant increase that speaks to the firm’s commitment to growth.
Details of the Amended Revolving Facility
Under the new Amended Revolving Facility, Swiss Water has acquired an additional borrowing capacity totaling $35 million. This includes $10 million from an expanded revolving credit capacity with CIBC and $25 million from a new partnership with Rabobank. The maturity date is set for June 23, 2027, granting Swiss Water the ability to extend this agreement to June 23, 2028, if necessary. Such an arrangement is not only beneficial in terms of immediate financial support but also signals a strong vote of confidence from financial partners.
Strategic Use of Increased Funds
The additional funds from the expanded credit facility will be pivotal for the company's working capital. This is particularly crucial with the backdrop of increasing sales volumes and heightened coffee prices. As consumer demand for quality decaffeinated coffee rises, Swiss Water is positioning itself perfectly to serve this evolving market.
Leadership Views on Financial Developments
Iain Carswell, Chief Financial Officer of Swiss Water, expressed gratitude towards CIBC for their ongoing support while welcoming Rabobank as a new member of their financial team. He commented on how this pivotal milestone not only better equips the company to handle the demands of a volatile coffee market but also reflects a strong endorsement of their dedicated team's ability to accelerate business growth.
Company Overview
Swiss Water Decaffeinated Coffee Inc. stands out as a premier specialty coffee enterprise renowned for its innovative Swiss Water Process, a method that decaffeinates coffee without chemical solvents such as methylene chloride. The company also operates Seaforth Supply Chain Solutions Inc., a business involved in handling and storing green coffee, both located in Delta, British Columbia. This strategic dual operation enhances their capabilities within the specialty coffee industry, allowing them to provide sustainably sourced products to conscious consumers.
Contact Information
For inquiries or further information, interested parties can reach out to:
Iain Carswell,
Chief Financial Officer,
Swiss Water Decaffeinated Coffee Inc.
Phone: 1-604-420-4050
Email: investor-relations@swisswater.com
Website: investor.swisswater.com
Frequently Asked Questions
What is the significance of Swiss Water's new credit facility?
The new credit facility increases their borrowing capacity to $80 million, which provides essential working capital to support growth and expansion.
How will the funds from the credit facility be utilized?
The funds will primarily be directed towards enhancing working capital to manage growing sales volumes and address rising coffee prices.
What did the CFO say about the new financial agreement?
Iain Carswell expressed appreciation for the support from CIBC and welcomed Rabobank as a new financial partner, highlighting the agreement's role in business growth.
Where is Swiss Water Decaffeinated Coffee Inc. located?
Swiss Water is based in Delta, British Columbia, Canada, and also owns Seaforth Supply Chain Solutions Inc.
What is the Swiss Water Process?
The Swiss Water Process is a decaffeination method that uses water instead of chemicals, ensuring a chemical-free product for consumers.
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