Colabor amends credit agreement for three-year extension

Chicago, March 18 – Colabor Group Inc. amended and restated its C$71.8 million senior first-ranking secured credit facility, according to a press release.

The agreement covers a C$50 million revolver and a C$21.8 million term loan. There is an accordion for another C$35 million.

The maturity date will now be in February 2028 instead of February 2025.

Based on leverage, interest is at the cost of funds plus 175 basis points to 275 bps.

The agreement authorizes the repayment at maturity of the company’s subordinated debt if the related conditions are met.

Colabor is a Saint-Bruno-de-Montarville, Quebec-based food distributor and wholesaler for the hotel, restaurant and institutional markets.

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