ReportPCF Group
Raport Bieżący Nr 13/2023: Podpisanie Listu Intencyjnego w Przedmiocie Zawarcia Umów Kredytowych
1 pages~1 min full read
People Can Fly Canada Inc. signed a letter of intent on 1 May 2023 to secure two revolving credit facilities totaling 9,200,000 CAD.
The financing package includes a 1,200,000 CAD facility for working capital and general corporate purposes, plus an 8,000,000 CAD facility specifically for Canadian tax-relief financing.
PCF Group S.A. acts as the guarantor for the full 9,200,000 CAD obligation, providing an unsecured guarantee to support its Canadian subsidiary.
The parties have set a target date of 30 May 2023 to finalize and execute the definitive credit documentation.
The agreement remains subject to successful negotiation, and the signing of the letter of intent does not guarantee the final execution of the credit facilities.
The report announces that on 1 May 2023, People Can Fly Canada Inc. (PCF Canada), a subsidiary of PCF Group S.A., entered into an intent‑to‑borrow agreement with the Bank of Montreal and PCF Group as guarantor. The agreement outlines two revolving credit facilities: a demand facility up to 1 200 000 CAD for working‑capital and general corporate purposes, and a second facility of 8 000 000 CAD earmarked for tax‑relief financing in Canada. PCF Canada committed to provide customary collateral, while PCF Group pledged an unsecured guarantee of 9 200 000 CAD to secure the obligations. The parties agreed to negotiate definitive credit documentation by 30 May 2023, with completion expected around that date. The report clarifies that signing the letter of intent and initiating negotiations does not guarantee final execution of the credit agreements. The disclosure is limited to the Canadian subsidiary and its financing arrangements, covering a single fiscal year’s transaction. No survey or external data sources are cited; the information derives solely from internal corporate communications and regulatory filing requirements under Article 17(1) of MAR.
