Emco Limited Enters New Credit Facility

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.


Kevin J. Morley Alec S. Bildy Virginie Gauthier Kristina M. Shaw Robert W.F. Stephenson