Medical Facilities Corp. entered into an agreement for a $150 million syndicated revolving credit facility with a five-year maturity rate.
Here's what you should know:
1. The new credit facility with replace the company's $100 million Canadian dollar denominated facility. The Canadian dollar facility was set to mature at the end of the year.
2. MFC will be able to use the credit for acquisitions or other general corporate purposes.
3. MFC President and CEO Robert Horrar said, "We are pleased to have obtained a much larger credit facility under favorable terms. The new credit facility better supports our future growth efforts, significantly increasing our flexibility as we focus on building scale and further diversifying our portfolio through accretive acquisitions."