MONTREAL (BRAIN)—Dorel Industries completed the extension of its revolving credit facility on Wednesday, opening up an additional $300 million to the parent company of Cannondale, GT, Mongoose, Schwinn, Iron Horse, Pacific Cycle and Sugoi.
The three-year agreement is effective July 1 and expires on the same date in 2013. The deal was co-led by the Royal Bank of Canada and the Bank of Montreal, according to a press release issued by Dorel on Wednesday.
The facility allows Dorel to borrow up to $300 million with provisions to borrow up to an additional $200 million.
This credit is in addition to $200 million in long-term financing the company secured back in April.
