- 01
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.
- 02
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.
- 03
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.
- 04
The parties have set a target date of 30 May 2023 to finalize and execute the definitive credit documentation.
- 05
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.