The North West Company Inc. Closes Senior Notes an
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WINNIPEG, Manitoba, Sept. 27, 2017 (GLOBE NEWSWIRE) -- (TSX: NWC ): The North West Company Inc. (the “Company”) is pleased to announce the closing of the previously announced issuance of CAD$100.0 million 3.74% senior notes. The financing was completed by private placement and the proceeds will be used for general corporate purposes and to reduce the amount outstanding on revolving bank loan facilities. These senior notes, which mature on September 26, 2029, are secured by a floating charge on certain assets of the Company and rank pari passu with the Company’s other senior debt.
The Company is also pleased to announce the extension of the maturity date of the CAD$300.0 million and US$52.0 million loan facilities to September 26, 2022.
About The North West Company
The North West Company Inc., through its subsidiaries, is a leading retailer of food and everyday products and services to rural communities and urban neighbourhoods in Canada, Alaska, the South Pacific and the Caribbean. The Company operates 243 stores under the trading names Northern, NorthMart, Giant Tiger, Alaska Commercial Company, Cost-U-Less and RiteWay Food Markets and has annualized sales of approximately CAD$1.8 billion.
The common shares of The North West Company Inc. trade on the Toronto Stock Exchange under the symbol “NWC”.
For more information contact:
Edward Kennedy, President and Chief Executive Officer, The North West Company Inc.
Phone 204-934-1482; fax 204-934-1317; email ekennedy@northwest.ca
John King, Executive Vice-President and Chief Financial Officer, The North West Company Inc.
Phone 204-934-1397; fax 204-934-1317; email jking@northwest.ca
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