24.04.2013

Linamar renews credit facility

Skyjack owner Linamar has amended and restated its revolving credit facility, in order it says, to take advantage of current market pricing and to extend the facility a further three years.

The new agreement will run until April 23rd, 2018, the size of the facility remains unchanged at $700 million and there are no changes to any financial covenants.

Chief executive Linda Hasenfratz said: "We are very pleased to renew the facility early, both to lock in financing through 2018 and also to allow us to enjoy immediate cost savings. Stable and low cost financing is the foundation of a successful business."