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AIR Canada
Air Canada concludes revolving credit line with the Canadian Imperial Bank of Commerce for $100 million
January 16th, 2009
Air Canada announced that it has concluded a secured revolving credit facility with the Canadian Imperial Bank of Commerce which will provide the airline with up to $100 million of revolving credit for a term of one year. Upon closing today, Air Canada has drawn funding of $50 million from the credit facility. Additional draw downs are subject to certain conditions. This revolving credit facility replaces Air Canada's previous secured syndicated 3-year revolving credit facility and represents an additional step in the implementation of Air Canada's strategy of improving its short term and longer term liquidity through both traditional and...
Source: Health Business Week (2009-01-16)
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