ADENTRA Inc. announced the extension of its credit facilities. The extension, secured with the Company's existing administrative agent and lender Bank of America, N.A. and a syndicate of lenders (the "Lenders"), extends the credit facilities for five years to January 27, 2030. The credit facilities provide the Company with US$825 million in financing capacity and is comprised of a revolving credit facility of US$600 million and a term loan of US$225 million. The revolving credit facility can be drawn upon in U.S. or Canadian dollars.
"The extension of the credit facilities provides us with the financial flexibility to continue our strategic initiatives, including the Destination 2028 plan of achieving US$3.5 billion in run-rate revenues and an average ROIC of 12%," commented Rob Brown, President and Chief Executive Officer. "Importantly, this extension did not significantly change the existing terms, ensuring stability and continuity in our financial planning," commented Mr. Brown.
ADENTRA is one of North America's largest distributors of architectural building products to the residential, repair and remodel, and commercial construction markets. The Company operates a network of 86 facilities in the United States and Canada.
