On November 29, 2000, Emco Limited (Emco) completed its financial arrangement with Bank of America Canada. The new credit facility, which will mature in November, 2005, provides up to $325 million to finance Emco’s working capital and capital expediture needs. The facility also creates a reserve of fund which will be used, in part, to repurchase the remaining balance of Emco’s 7.25 per cent subordinated debentures due on April 30, 2002 and a portion of the 6.25 per cent convertible subordinated debentures due on July 4, 2007.
Emco, with sales of $1.2 billion annually, is one of Canada’s leading distributors and manufacturers of building products for the residential, commercial and industrial construction markets.
McCarthy Tétrault acted for Emco with a team comprised of Alec Bildy, Robert Stephenson and Kristina Shaw. In-house counsel for Emco, Susan Rabkin, assisted. Representing Bank of America Canada were Kevin Morley and Virginie Gauthier of Meighen Demers LLP.
Emco, with sales of $1.2 billion annually, is one of Canada’s leading distributors and manufacturers of building products for the residential, commercial and industrial construction markets.
McCarthy Tétrault acted for Emco with a team comprised of Alec Bildy, Robert Stephenson and Kristina Shaw. In-house counsel for Emco, Susan Rabkin, assisted. Representing Bank of America Canada were Kevin Morley and Virginie Gauthier of Meighen Demers LLP.
