K-Bro Linen (TSE:KBL) has released an update.
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K-Bro Linen has secured an upsized $175 million syndicated credit facility, led by The Toronto-Dominion Bank and joined by other lenders, to enhance financial flexibility for organic growth and potential mergers and acquisitions. The new credit line, which replaces a previous $125 million facility, also includes a $15 million swingline and an uncommitted $75 million accordion feature, maturing in March 2027. This move aligns with K-Bro’s strategy to grow via strategic acquisitions, bolstered by a strong balance sheet and active M&A pipeline.
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