Horizon North Logistics corrects facility accordion to C$10 million

By Susanna Moon

Chicago, Feb. 20 – Horizon North Logistics Inc. said its amended credit facility actually includes an accordion for up to C$10 million more loans with lender approval, not C$50 million more as announced Thursday.

The company released a corrected press release on Friday.

As previously announced, the company lifted its committed credit facility by C$25 million to C$200 million.

The facility was increased from C$175 million by adding a lender to the syndicate, the company previously said.

"The credit facility increase will help improve Horizon North's financial flexibility and provide additional borrowing capacity as we look forward into 2015," Rod Graham, president and chief executive officer, said in the press release.

Calgary, Alta.-based Horizon North provides transport services to the oil and natural gas sector.

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