The North West Company Inc.

The North West Company Inc.

July 31, 2015 15:49 ET

The North West Company Inc. Closes the Refinancing of the Revolving Loan Facility for Its International Operations

WINNIPEG, MANITOBA--(Marketwired - July 31, 2015) - The North West Company Inc. ("North West") (TSX:NWC) today announced the closing of the previously announced refinancing of the revolving loan facility for its International Operations.

The new, increased committed U.S. loan facility, which is being provided by the lender of the existing facility, provides North West with a $40 million revolving loan facility for working capital requirements and general corporate purposes. The new facilities mature on October 31, 2020, and bears a floating rate of interest based on US LIBOR plus spread. The loan facility is secured by certain accounts receivable and inventories of North West's International Operations.

Company Profile

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 226 stores under the trade names Northern, NorthMart, Giant Tiger, AC Value Center and Cost-U-Less and has annualized sales of approximately CDN$1.6 billion.

The common shares of North West trade on the Toronto Stock Exchange under the symbol "NWC".

Contact Information

  • The North West Company Inc.
    Edward Kennedy
    President and Chief Executive Officer
    204-934-1317 (FAX)

    The North West Company Inc.
    John King
    Chief Financial Officer
    204-934-1317 (FAX)

    The North West Company Inc.
    Paulina Hiebert
    Vice President Legal and Corporate Secretary
    204-934-1317 (FAX)