Grande West $BUS Secures $20M Credit Facility

Grande West Transportation Group Inc--Grande West Announces 2017


Grande West Transportation Group Inc., a Canadian bus manufacturer of multi-purpose mid-sized transit vehicles for sale in Canada and the United States, is pleased to announce that it has secured a new credit facility for up to $20 million CAD.

The Royal Bank of Canada is providing a revolving credit loan for up to $20,000,000 in Canadian dollar Prime Rate loans, US Base Rate loans, Letters of Credit and Letters of Guarantee. The credit facility will be used to refinance certain outstanding indebtedness, ongoing working capital requirements and retires the Company’s current $4.3 million USD credit facility.

“We are fortunate and excited to be working with Royal Bank as the Company enters a new phase of production and expansion. This new credit facility significantly reduces pressure on our ongoing working capital requirements and allows us to continue our strong growth profile with cost-effective and flexible financial terms. Royal Bank has been great to work with and has provided the right facility that will grow with our business to best ensure Grande West’s success.”

William Trainer, CEO of Grande West

PricewaterhouseCoopers has been engaged as its auditor and financial consultant to further assist with continued growth and broader international operations.