FOR: CANADIAN GENERAL INVESTMENTS, LIMITED
TSX SYMBOLS: CGI, CGI.PR.D
LONDON STOCK EXCHANGE: CGI
June 5, 2019
Canadian General Investments, Limited Enters Into $100 Million Amended and Restated Credit Facility
TORONTO, CANADA - Canadian General Investments, Limited (CGI or the Company) announced today that it has entered into an amended and restated credit agreement with a Canadian chartered bank for a $100 million one-year secured non-revolving term credit facility. This facility has an evergreen feature, which allows the Company to continue use of the facility indefinitely beyond the initial one-year term, provided the bank has not given the Company one-year's notice that it is terminating the facility. Proceeds will continue to be used on an ongoing basis as part of CGI's overall leverage strategy.
The amended and restated credit agreement has the effect of extending the maturity date and increasing the credit limit on the existing $75 million three-year fixed rate secured non-revolving term credit facility that was scheduled to mature on June 6, 2019.
CGI has engaged in a leverage strategy since its first issuance of Class A preference shares in 1998 in an effort to enhance returns to common shareholders.
FOR FURTHER INFORMATION PLEASE CONTACT:
Canadian General Investments, Limited
Jonathan A. Morgan
President and CEO
Phone: (416) 366-2931
Fax: (416) 366-2729
e-mail: [email protected]
website: www.canadiangeneralinvestments.ca
