Stantec Inc.

Stantec Inc.

September 01, 2005 16:03 ET

Stantec Announces New CDN$160,000,000 Credit Facility

EDMONTON, ALBERTA--(CCNMatthews - Sept. 1, 2005) - Stantec (TSX:STN) (NYSE:SXC) announced today that the Company has reached an agreement on a CDN$160 million credit facility. The arrangement is a revolving, three-year credit facility and is available for acquisitions, for working capital, and for general corporate purposes. It will also be used to finance part of the acquisition of The Keith Companies Inc. (TKC), the closing of which is scheduled for September 15, 2005, subject to approval of TKC shareholders.

"The credit arrangement reflects Stantec's valued status in the financial community," says Don Wilson, Stantec Vice President & CFO. "This financing provides Stantec with the flexibility to continue to achieve our growth plan to be a top 10 global design firm."

The credit facility is being made available by a syndicate of financial institutions and is led by Canadian Imperial Bank of Commerce, as administrative agent and arranger; Bank of Nova Scotia, as syndication agent; Alberta Treasury Branches; and Canadian Western Bank.

Stantec, founded in 1954, provides professional design and consulting services in planning, engineering, architecture, surveying, and project management. We support public and private sector clients in a diverse range of markets, at every stage, from initial concept and financial feasibility to project completion and beyond. Our services are offered through more than 4,500 employees operating out of over 50 locations in North America and the Caribbean. Stantec trades on the Toronto Stock Exchange under the symbol STN and on the New York Stock Exchange under the symbol SXC.

Contact Information

  • Stantec
    Kris Connor
    Media Relations
    (780) 969-2015
    Don Wilson
    Vice President & CFO
    (780) 917-7269