Transcontinental Obtains $135 million for Production Purchases

Posted Tuesday, July 28, 2009 12:00 am

By: E&P Staff Transcontinental, the Montreal-based company that is handling the printing of the San Francisco Chronicle, has secured two new lines of financing for a total of $135 million.

HypoVereinsbank agreed to lend Transcontinental $85 million under a six-year term so the company can purchase production equipment over the next two years. The Societe generale de financement du Quebec arranged a $50 million loan in a five-year term agreement.

Additionally, Transcontinental obtained $25 million in a one-year credit facility with its bank syndicate. The new amount is in addition to the $125 million the company announced on May 5.

"These new credit facilities give Transcontinental greater flexibility and diversify its sources of financing," Benoit Huard, vice president and CFO of Transcontinental, said in a statement.

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Transcontinental Obtains $135 million for Production Purchases

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