- 01
PCF Group S.A. increased the unsecured guarantee for its subsidiary, People Can Fly Canada Inc., from 9.2 million to 13.154 million Canadian dollars as of November 15, 2024.
- 02
The revolving credit facility for People Can Fly Canada Inc. with the Bank of Montreal was expanded from 8 million to 11.954 million Canadian dollars.
- 03
To secure the increased credit exposure, the first-ranking hypothec over the movable property of the Canadian subsidiary was raised from 11.04 million to 15.7848 million Canadian dollars.
- 04
The primary purpose of the increased credit facility is to pre-finance future tax credits within the Canadian market.
- 05
These financial adjustments are limited to Canadian operations and do not alter the material terms or conditions of the original May 2023 financing agreement.