Transcontinental Puts in Place a New $400 Million Credit Facility

The company’s current credit facility will remain in place until its expiry in September 2012, but has been reduced to $200 million. As of Oct. 31, 2011, Transcontinental had drawn $181.7 million on this facility.

“We are very pleased that our financial partners continue to demonstrate their confidence in our company, strategy and prospects. This agreement provides us with the flexibility we need to pursue our strategic plan and also recognizes our disciplined approach to financial management, including our strong balance sheet with a net debt to EBITDA ratio of 1.4x, our cash flow generating ability and our investment grade credit rating,” said Nelson Gentiletti, chief financial and development officer.