AutoCanada to repay C$11.5 million under revolver with sale proceeds

By Wendy Van Sickle

Columbus, Ohio, Feb. 23 – AutoCanada Inc. plans to repay about C$11.5 million of borrowings outstanding under its revolving credit facility with proceeds from its sale of operating assets of Newmarket Infiniti Nissan in Newmarket, Ont., and real estate on which the dealership is located, according to a Tuesday press release.

The sale is expected to close this week.

AutoCanada is an automobile dealership group based in Edmonton, Alta.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.