ABC Money
Home


Chesswood Income Fund Announces Renewal And Expansion Of Pawnee Leasing Corporations Bank Credit Facility


Published :
Thu, 30 Sep 2010 09:42
By : 1888pressrelease.com
Print this Story


AddThis Social Bookmark Button

(1888PressRelease) September 28, 2010 - TORONTO - Chesswood Income Fund (the "Fund" or "Chesswood") (TSX:CHW.UN) announced today that Pawnee Leasing Corporation ("Pawnee"), the Fund's largest operating business, renewed and expanded its credit facility, for a term of three years. The existing credit facility was due to mature in May, 2011.



"We're very pleased that Pawnee's lenders have once again demonstrated their support of its growth by renewing and expanding Pawnee's credit facility for another three years" said Chesswood's President and CEO, Barry Shafran. "Our credit facility has been increased to US$55 million while the accordion feature of our loan agreement has been increased to US$85 million from US$65 million" added Shafran. Pawnee utilized US$37 million under its credit facility, as of the end of August.



Pawnee's new facility syndicate, once again led by JPMorgan Chase, also includes KeyBank and BBVA Compass. The terms and conditions of the renewal facility are substantially similar to the last credit agreement, and provide for the upcoming conversion of the Fund.



As previously announced, Chesswood has contributed US$2 million of additional capital to Pawnee, in conjunction with the new credit facility, to further support Pawnee's growth.



About Chesswood Income Fund

Chesswood Income Fund is a financial services trust with operating businesses in both Canada and the U.S.



For more information visit www.ChesswoodFund.com.

###











Share on



Comment on this Article
Comment:
Title:
Name:
Please Enter
 
Here
  

 Search News

 Look For
Business
Credit cards
Finance
Loans
Money
Mortgages

 
 Stock Quotes *
SYMBOL
LAST
CHANGE
DOW JONES
10340.69
-107.24 ( -1.03 %)
NASDAQ
2792.28
22.57 ( 0.81 %)
FTSE 100
5741.15
38.78 ( 0.68 %)

SYMBOL ( 2012-01-19 )
LAST
CHANGE
STANDARD CHARTERED ( 11:35am )
1559.00
70.00 ( 4.76 %)
WOLSELEY PLC ( 11:35am )
2250.00
70.00 ( 3.20 %)
CARNIVAL ( 11:35am )
2017.00
46.00 ( 2.42 %)
LAND SECURITIES GROUP ( 11:35am )
679.50
36.50 ( 5.63 %)
WHITBREAD ( 11:35am )
1662.99
33.99 ( 2.09 %)

SYMBOL ( 2012-01-19 )
LAST
CHANGE
3M COMPANY ( 12:34pm )
85.78
0.71 ( 0.83 %)
BOEING CO ( 12:34pm )
75.70
0.64 ( 0.85 %)
JP MORGAN CHASE CO ( 12:34pm )
37.03
0.49 ( 1.33 %)
IBM ( 12:34pm )
181.50
0.43 ( 0.24 %)
WAL MART STORES ( 12:34pm )
60.44
0.43 ( 0.72 %)

SYMBOL ( 2012-01-19 )
LAST
CHANGE
F5 NETWORKS INC ( 12:11pm )
122.38
13.92 ( 11.80 %)
ICO GLOBAL COMM CL A ( 8:01pm )
99999999.99
9.37 ( 366.02 %)
PRICELINECOM INC ( 12:23pm )
525.40
6.57 ( 1.26 %)
AMAZONCOM INC ( 12:04pm )
195.65
6.21 ( 3.25 %)
MILLICOM INTERNATIONAL CELLULAR SA ( 4:00pm )
110.18
4.82 ( 4.43 %)

Gainers & Losers
Dow Jones
Euro Stoxx 50
FTSE 100
FTSE 250
FTSE AIM
FTSE ALL
Nasdaq

 Portfolio Manager

You must log in to access this area of the site. If you are not a registered user click here to sign up for instant access!


 Finance Explained

Money making ideas

Save money

Money management
Savings accounts
Investing money
Share dealing
Stock broker
Forex currency trading
Pension plans
Functions of Money

(c) 2007 viploan.co.uk, All Rights Reserved
*viploan.co.uk does not guarantee the accuracy of any share prices or stock quotations displayed. These are not real time quotes; all are delayed by at least twenty minutes and are for information purposes only.