Kingsway to replace maturing Canadian credit facility

Kingsway Financial Services Inc. (TSX:KFS) has entered into a US$175 million three-year revolving credit facility with a syndicate of three banks.
This new credit facility, which matures in June 2009, replaces the existing CD$150 million 364-day revolving credit facility, and contains similar terms, conditions and financial covenants to the facility it replaces.
In the new facility, The Bank of Nova Scotia acted as Administrative Agent, Co-Lead Arranger and Bookrunner, LaSalle National Bank as Syndication Agent and Co-Lead Arranger, and Royal Bank of Canada acted as Documentation Agent.
“We expect this facility will provide us with greater flexibility to continue to support the profitable growth in our business,” Bill Star, president & CEO, says.