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Maple Leaf Foods Completes $250 Million Debt Financing

May 13, 2010
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PRNewswire reports Maple Leaf Foods has announced that it has completed an agreement with a syndicate of banks, including the majority of the banks in its existing revolving credit facility, to augment the Company''s primary revolving credit facility with a $250 million short-term bank lending facility. The facility is an unsecured, delayed draw term loan and bears interest based on short-term interest rates. The facility will be used to meet the Company''s short term funding requirements for general corporate purposes, and to provide an adequate level of excess liquidity. The facility includes covenants that are materially consistent with the Company''s existing credit arrangements.
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