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Canada's Park Lawn secures C$125M credit facility

Toronto-based funeral services provider Park Lawn Corp. said Dec. 18 that it secured a new syndicated bank financing arrangement with the National Bank of Canada, Bank of Montreal and Toronto-Dominion Bank for a new credit facility worth C$125 million that will mature after five years.

The new facility replaces Park Lawn's existing credit facilities with National Bank. It includes a C$75 million committed credit facility, an additional C$50 million accordion facility and a five-year revolving facility.

The company added that the financing arrangement will provide it with flexibility in its growth strategy and will help it capitalize on organic projects and acquisition opportunities.