ADENTRA Announces Credit Facilities Extension
Summary
LANGLEY, BC, Jan. 27, 2025 /CNW/ - ADENTRA Inc. ("ADENTRA" or the "Company") (TSX: ADEN) today announced the extension of its credit facilities.The extension, secured with the Companys existing administrative agent and lender Bank of America, N.A. "The extension of the credit facilities provides us with the financial flexibility to continue our strategic initiatives, including the Destination 2028 plan of achieving US$3.5 billion in run-rate revenues and an average ROIC of 12%," commented Rob Brown, President and Chief Executive Officer. "Importantly, this extension did not significantly change the existing terms, ensuring stability and continuity in our financial planning," commented Mr. Brown.The credit facilities bear interest at a rate equal to SOFR plus up to 225 basis points or the base rate of interest charged by the Lenders from time to time plus 125 basis points. The SOFR and base rate margins for the credit facilities are subject to performance pricing adjustments, from time to time, based on the Companys then applicable leverage ratio.ADENTRA is one of North Americas largest distributors of architectural building products to the residential, repair and remodel, and commercial construction markets. ADENTRAs common shares are listed on the Toronto Stock Exchange under the symbol ADEN.