Methanex gets $400 million revolving credit facility due December 2019

By Toni Weeks

San Luis Obispo, Calif., Dec. 12 – Methanex Corp. renewed its $400 million revolving credit facility with a syndicate of lenders, according to a 6-K filing with the Securities and Exchange Commission.

The facility expires in December 2019 and replaces the company’s existing revolving facility, which was set to expire in December 2016.

RBC Capital Markets was the arranger for the facility.

“With cash balances of $475 million at the end of the third quarter, cash proceeds from the recent $600 million bond issuances and this undrawn $400 million credit facility, we believe we are well positioned to meet our financial commitments and invest to grow the company,” Ian Cameron, chief financial officer and senior vice president of finance, said in the filing.

The worldwide methanol supplier is based in Vancouver, B.C.

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