Resolute Completes Five-Year Extension of ABL Credit Facility
Resolute Forest Products Inc. (RFP)
US:NYSE Investor Relations:
resolutefp.com/investors
Company Research
Source: PR Newswire
US $ MONTRÉAL, May 14, 2019 /PRNewswire/ - Resolute Forest Products Inc. (NYSE: RFP) (TSX: RFP) today announced a 5-year extension of its senior secured asset-based revolving credit facility ("ABL credit facility") with an aggregate lender commitment of up to $500 million at any time outstanding, subject to borrowing base availability based on specified advance rates, eligibility criteria and customary reserves. "This successful extension improves certain terms and conditions, and supports the execution of our growth and transformation initiatives for the future," said Yves Laflamme, president and chief executive officer. "By renewing and extending the ABL through May 2024, we are taking advantage of our strong financial position and of attractive bank market conditions to lock-in a competitive source of liquidity for the long-term," added Remi Lalonde, senior vice president and chief financial officer.The ABL facility is completely undrawn, with the exception of approximately $51 mi
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