Tochter von Hülsenfrüchteproduzent AGT kann wichtigen Kredit verlängern
Damit sei AGT nun "flüssiger", und das Kreditrisiko sei niedriger, weil auch die Gesamtdarlehenssummeg gesenkt wurde, hieß es. Lesen Sie unten die Mitteilung des Unternehmens dazu in englischer Sprache. Der kanadische Hülsenfrüchte-Hersteller AGT ist eine ECOreporter-Favoriten-Aktie (Link entfernt) aus der Kategorie nachhaltige Mittelklasse-Aktien. (Link entfernt)
Die untenstehende Meldung ist eine Original-Meldung des Unternehmens. Sie ist nicht von der ECOreporter.de-Redaktion bearbeitet. Die presserechtliche Verantwortlichkeit liegt bei dem meldenden Unternehmen.
AGT Food and Ingredients Inc. Announces Extension to Alliance Pulse Processors Inc.'s Senior Secured Credit Facilities
REGINA - AGT Food and Ingredients Inc. (TSX:AGT) ("AGT" or the "Company") has announced that Alliance Pulse Processors Inc. ("APP"), a wholly-owned subsidiary of AGT, has extended the maturities of its facilities and amended certain portions of its credit agreement (the "Credit Agreement"). The maturities of the facilities under the Credit Agreement have been extended to January 24, 2020 from January 24, 2019. Other amendments to the Credit Agreement include cancelling the non-revolving facility and reducing the aggregate committed facility amount to CDN $400,000,000 from CDN $437,500,000. Facility amounts have been reallocated under the revolving and operating facilities, and the uncommitted accordion will be increased from CDN $50,000,000 to CDN $75,000,000. Furthermore, the Credit Agreement was amended to reflect changes in, and the evolution of, AGT's and APP's businesses by removing the covenants which measured the fixed charge coverage ratios and replacing them with minimum Adjusted EBITDA* to Interest Expense ratios, for both AGT, on a consolidated basis, and APP.
"The extension and amendment of our credit facilities provides AGT with continued access to the credit required for our current business, as well as for working capital needed for our liquidity and growth over a longer period of time. A reduction in our available credit facilities reflects the reduced borrowing requirements we have in our business after the issuance of the Preferred Securities to Fairfax in August of this year. We have built in an uncommitted accordion of $75,000,000 to ensure we have access to more funding if needs arise in the future. Other features of the amended credit facilities include the removal of the non-revolving facility and amendments to our covenants to better reflect our business today. By eliminating principal repayments on debt, we have freed up cash flow. Our banking group is behind us and with liquidity bolstered by our recent transaction with Fairfax, we expect the syndicated credit facility will allow us to continue to grow AGT and our business overall," said Mr. Murad Al-Katib, President and CEO of AGT.
"Access to capital is a strategic advantage for AGT in a highly competitive global commodity trading environment. We have a clearly defined risk management program on our sales to minimize our credit risk, and this is viewed positively by our banking partners. This is reflected by the commitment and ongoing support of our banking partners. Our Canadian banking partners are an important part of our growth strategy and this facility assists us in the ability to monetize opportunities in our business into sustainable, diversified earnings," said Mr. Huseyin Arslan, Executive Chairman of AGT.
AGT Food and Ingredients Inc. Profile
AGT is a processor of value-added pulses, staple foods and ingredients for export and domestic markets as well as a supplier of retail packaged and canned foods to retail and food service sectors. Through its offices and processing facilities located in some of the best agricultural growing regions in Canada, the U.S., Turkey, China, Australia and South Africa, merchandising and sales offices in the U.K., the Netherlands, Spain, Switzerland and India and origination offices in Russia, AGT produces a full range of pulses and specialty crops including lentils, peas, chickpeas, beans and canary seed as well as food ingredients such as pulse flours, proteins, starches and fibres. Through its subsidiaries in Turkey, the Arbel Group, AGT also produces staple foods such as Arbella Pasta, rice, and milled wheat products, including bulgur and semolina.