WINNIPEG, MANITOBA--(Marketwire - Oct. 25, 2012) - The North West Company Inc. (the "Company" or "North West") (TSX:NWC)
today announced the closing of its previously announced refinancing of its loan facility for its International Operations. The new increased and committed revolving loan facility, which is being provided by the lender of the existing facility, provides North West with a US$30 million revolving loan facility for working capital requirements and general business purposes. The facility, which expires on October 31, 2015, is secured by certain accounts receivable and inventories of North West's International Operations, and bears a floating rate of interest based on LIBOR plus a spread.
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. North West operates 231 stores under the trading names Northern, NorthMart, Giant Tiger, AC Value Center and Cost-U-Less and has annualized sales of approximately CDN$1.5 billion.
The common shares of North West trade on the Toronto Stock Exchange under the symbol "NWC".