Home | Business News | Browse by Publication | P | PR Newswire

Magna Entertainment Corp. announces refinancing of AmTote International, Inc. credit facilities.

Publication: PR Newswire
Publication Date: 11-MAY-07
Format: Online
Delivery: Immediate Online Access

Article Excerpt
AURORA, ON, May 11 /PRNewswire-FirstCall/ -- Magna Entertainment Corp. ("MEC") (NASDAQ: MECA; TSX: MEC.A) announced today that its wholly-owned subsidiary, AmTote International, Inc. ("AmTote") has completed a refinancing of its existing credit facilities, with SunTrust Bank ("SunTrust") as the new lender. The refinancing with SunTrust includes a $4.2 million term loan for the repayment of AmTote's existing debt outstanding under its Lasalle Bank term loan facilities plus a $3 million revolving credit facility to finance working capital needs and a $10 million term loan facility to finance up to 80% of eligible capital costs related to tote service contracts.

"We expect that the new credit facilities will provide increased flexibility and growth...

View this article FREE - Now for a Limited Time, try Goliath Business News
Free for 3 Days!



More articles from PR Newswire
VIDEO from Medialink and General Motors: The NASCAR Car of Tomorrow., May 11, 2007
CMA Celebrity Close Up Series Returns to CMA Music Festival for Fifth ..., May 11, 2007
Pop Tarts(TM) Presents 'American Idols Live!' Tour, Taking the Country..., May 11, 2007
McNeil Nutritionals, LLC and Merisant Company Announce Settlement Agre..., May 11, 2007
McNeil Nutritionals, LLC and Merisant Company Announce Settlement Agre..., May 11, 2007

Looking for additional articles?
Search our database of over 3 million articles.

Looking for more in-depth information on this industry?
Search our complete database of Industry & Market reports by text, subject, publication name or publication date.

About Goliath
Whether you're looking for sales prospects, competitive information, company analysis or best practices in managing your organization, Goliath can help you meet your business needs.

Our extensive business information databases empower business professionals with both the breadth and depth of credible, authoritative information they need to support their business goals. Whether it be strategic planning, sales prospecting, company research or defining management best practices - Goliath is your leading source for accurate information.