Updated Mar 21, 2026 by PCF Group
People Can Fly Canada Inc. secured 9.2 million CAD in revolving credit facilities from the Bank of Montreal on May 24, 2023.
The financing is split into 1.2 million CAD for general working capital and 8 million CAD specifically to bridge Canadian tax incentives.
PCF Group S.A. provided an unsecured guarantee for the full 9.2 million CAD amount to support its Montreal-based subsidiary.
The Canadian subsidiary granted the bank a first-ranking security interest and a mortgage of 11.04 million CAD over its total movable property and assets.
Interest rates for the credit facilities are tied to the Canadian Prime Rate plus a standard market margin.
The agreement includes restrictive covenants that require lender approval for additional debt or changes to the company's core business scope.
People Can Fly Canada Inc. secured 9.2 million CAD in revolving credit facilities from the Bank of Montreal on May 24, 2023.
The financing is split into 1.2 million CAD for general working capital and 8 million CAD specifically to bridge Canadian tax incentives.
PCF Group S.A. provided an unsecured guarantee for the full 9.2 million CAD amount to support its Montreal-based subsidiary.
The Canadian subsidiary granted the bank a first-ranking security interest and a mortgage of 11.04 million CAD over its total movable property and assets.
Interest rates for the credit facilities are tied to the Canadian Prime Rate plus a standard market margin.
The agreement includes restrictive covenants that require lender approval for additional debt or changes to the company's core business scope.