Swiss Water Announces $33.25 Million Expansion

  • 12.11.2022
  • GlobeNewsWire

Swiss Water Decaffeinated Coffee Inc. (TSX – SWP) (“Swiss Water” or the “Company”) is pleased to announce it has successfully completed the expansion of its credit facilities with its existing senior lenders, resulting in $33.25 million of incremental capital availability, consisting of $21.25 million of expanded revolving credit capacity and $12 million of incremental senior term financing.

The increased revolving credit capacity is being made available for working capital, particularly in light of materially increased sales volumes and elevated coffee prices, and the increased term financing will fund the completion of the Company’s second production line in Delta, British Columbia (“Delta 2”), anticipated to be operating commercially in the third quarter of 2023.

The expanded financing package involves CIBC, Business Development Bank of Canada, Farm Credit Canada, and Mill Road Capital II, L.P. (“Mill Road”), all of the Company’s current senior lenders.