Wajax Corporation

Wajax Corporation

August 15, 2011 10:43 ET

Wajax Extends $175 Million Bank Credit Facility to August 12, 2016

TORONTO, ONTARIO--(Marketwire - Aug. 15, 2011) - On August 12, 2011, Wajax (TSX:WJX) amended and extended the term of its $175 million bank credit facility to August 12, 2016 from December 31, 2011. The terms of the fully secured facility, comprised of a $30 million non-revolving term portion and a $145 million revolving term portion, are no more restrictive than in the previous facility. Margins on the amended facility depend on Wajax's leverage ratio at the time of borrowing and range between 1.5% and 3.0% for Canadian dollar bankers' acceptances and US dollar LIBOR borrowings, and 0.5% and 2.0% for prime rate borrowings.

Wajax is a diversified corporation that has three core distribution businesses engaged in the sale and after-sales parts and service support of equipment, industrial components and power systems, through a network of 118 branches across Canada. Its customer base spans natural resources, construction, transportation, manufacturing, industrial processing and utilities.

Contact Information

  • Wajax Corporation
    Neil Manning
    President and Chief Executive Officer
    (905) 212-3300

    Wajax Corporation
    John Hamilton
    Chief Financial Officer
    (905) 212-3300