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2 different subjects going on here :Off-Topic:
Central Transport | Vitran Credit
- Thread starter Buckeyedriver7
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Buckeyedriver7
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I finally got the article from the print edition in Transport Topics.
Vitran Corp. Amends Credit Pact
Vitran Corp. has announced amendments to its credit agreement that may change the terms of its borrowing capacity. The Oct.10 regulatory filing by Vitran, Toronto, said the agreement with banks led by JPMorgan Chase & Co. has been modified to lower the threshold for borrowing capacity to $5 million from $10 million if threshold levels aren't met for three consecutive business days. The filing also said that the move was designed to provide the company with additional financial operating flexibility. Under the old agreement, restrictions could have been placed on its finances if its borrowing capacity was below the $10 million level. With the amendment, that amount was lowered to $5 million. The company currently has more than $20 million of borrowing capacity, an amount that is not likely to vary much for now.
Vitran Corp. Amends Credit Pact
Vitran Corp. has announced amendments to its credit agreement that may change the terms of its borrowing capacity. The Oct.10 regulatory filing by Vitran, Toronto, said the agreement with banks led by JPMorgan Chase & Co. has been modified to lower the threshold for borrowing capacity to $5 million from $10 million if threshold levels aren't met for three consecutive business days. The filing also said that the move was designed to provide the company with additional financial operating flexibility. Under the old agreement, restrictions could have been placed on its finances if its borrowing capacity was below the $10 million level. With the amendment, that amount was lowered to $5 million. The company currently has more than $20 million of borrowing capacity, an amount that is not likely to vary much for now.