Canada’s People Corp. increases bank facility to C$125 million, extends to 2022

By Rebecca Melvin

New York, July 5 – Canada’s People Corp. has amended and increased its bank credit facility to C$125 million from C$93 million, with an option to increase the facility by another $50 million for a total of $175 million, according to a company release.

The increase option is subject to the satisfaction of certain terms and conditions.

In addition, the credit facility has been extended to June 1, 2022, the number of lenders in the syndicate has been increased and improvements in other terms have been achieved, including lower borrowing costs and greater flexibility.

The Canadian benefits company is based in Markham, Ontario.

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