IMAX Corporation Receives Commitment Letter for Expansion and Extension of Its Credit Facility (IMAX, WFC)

IMAX Corporation IMAX today announced it has received a commitment letter from Wells Fargo Capital Finance Corporation Canada part of Wells Fargo & Company WFC, pursuant to which Wells Fargo Capital Finance has agreed to expand its senior secured credit facility to up to $110 million, replacing its previous $75 million facility. The facility expansion will include the participation of Export Development Canada for $55 million. Upon execution of definitive documents, the amended credit facility will consist of up to a $60 million revolving term loan with no scheduled repayments and up to a $50 million asset-based revolving loan.