Cargojet gets upsized C$400 million revolver due in August 2023

By Wendy Van Sickle

Columbus, Ohio, Sept. 28 – Cargojet Inc. amended and extended its revolving credit facility to provide for an upsized C$400 million capacity due in about five years, according to a press release.

The credit facility is now due to mature on Aug. 17, 2023.

It amends and extends Cargojet’s previous C$225 million revolver that was due to mature on April 7, 2020 as well as its C$75 million delayed-draw term loan that was due to mature on April 7, 2022, but has now been terminated.

“This amended and extended credit facility provides Cargojet with increased capacity, better terms and more flexibility to execute our growth strategy,” Ajay Virmani, president and chief executive officer of Cargojet, said in the release.

Cargojet is a Mississauga, Ont., provider of overnight air cargo services.

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