- JPMorgan Chase Leads Syndicate of Relationship Banks in $150MM Revolving Credit Facility for Novocure
- Encina Lender Finance Provides $22.5 Million Senior Credit Facility to Indirect Auto Finance Platform
- Avid Technology Announces Closing of Debt Refinancing Resulting in Expected $10 Million Annual Interest Savings
- SFNET Midwest Blackhawks Outing 2020
- SFNet Midwest Dine-Around at Ēma
IBC Advanced Alloys Secures Extension of Line of Credit and Term Loan Facility with BMO Harris Bank
October 8, 2020
Source: GlobeNewswire
IBC Advanced Alloys Corp. (“IBC” or the “Company”) (TSX-V: IB; OTCQB: IAALF) announces that it has secured renewals of its existing line of credit and its term loan facility with BMO Harris Bank (”BMO”). The renewals extend the line of credit and term loan facility until September 30, 2021. Approximately $3.5 million is available to the Company under the line of credit at an interest rate of Prime + 2.25%, and the term loan has a maximum of approximately $1.2 million at an interest rate of 6.5%.
“We wish to thank BMO Harris Bank for its continuing support of and partnership with IBC as we intensify our efforts to strengthen IBC’s operational performance and grow global sales of the unique mission-critical alloy products that we manufacture,” said Mark A. Smith, CEO and Director of IBC.
For more information on IBC and its innovative alloy products, go here.
On Behalf of the Board of Directors:
Mark A. Smith
Mark A. Smith, CEO and Chairman of the Board
Contact:
Mark A. Smith, CEO and Board Chairman
Jim Sims, Director of Investor and Public Relations
+1 (303) 503-6203
Email: jsims@policycom.com
Website: www.ibcadvancedalloys.com
@IBCAdvanced $IB $IAALF #Beryllium #Beralcast #BMO
About IBC Advanced Alloys Corp.
IBC is a leading beryllium and copper advanced alloys company serving a variety of industries such as defense, aerospace, automotive, telecommunications, precision manufacturing, and others. IBC's Copper Alloys Division manufactures and distributes a variety of copper alloys as castings and forgings, including beryllium copper, chrome copper, and aluminum bronze. IBC's Engineered Materials Division makes the Beralcast® family of alloys, which can be precision cast and are used in an increasing number of defense, aerospace, and other systems, including the F-35 Joint Strike Fighter. IBC's has production facilities in Indiana, Massachusetts, Pennsylvania, and Missouri. The Company's common shares are traded on the TSX Venture Exchange under the symbol "IB" and theIn This Section