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American Honda unit lifts one-year revolver to C$800 million
By Marisa Wong
Madison, Wis., July 2 – Honda Canada Finance Inc., a subsidiary of American Honda Finance Corp., amended its C$1.3 billion second amended and restated credit agreement dated March 24 to increase the amount it may borrow on a one-year revolving basis to C$800 million from C$500 million, effective June 30, according to an 8-K filing with the Securities and Exchange Commission.
The company may continue to borrow up to C$800 million on a five-year revolving basis under the credit agreement.
Canadian Imperial Bank of Commerce is the administrative agent, joint bookrunner and co-lead arranger under the credit agreement, RBC Capital Markets is joint bookrunner and co-lead arranger, BMO Capital Markets is co-lead arranger, Toronto-Dominion Bank is co-arranger and co-syndication agent, Bank of Tokyo-Mitsubishi UFJ (Canada) is co-arranger and co-syndication agent, Bank of Montreal is co-syndication agent, Royal Bank of Canada is co-syndication agent and Mizuho Bank, Ltd., Canada Branch is documentation agent.
American Honda is the U.S. financing arm of Honda Financial Services and is based in Torrance, Calif.
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