good natured Products Inc. - CEO, Paul Antoniadis.
CEO, Paul Antoniadis.
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  • good natured Products Inc. (GDNP) has completed a US$55 million senior secured revolving credit facility and closed a $6.6 million mortgage financing
  • The senior credit facility consisted of a US$30 million asset-based revolving credit facility with a four-year term and an uncommitted US$25 million revolving facility
  • The facility will be used to retire $13.7 million outstanding debt with National Bank
  • The mortgage refinancing has a principal amount of $6.6 million, repaid over a 25-year period with monthly interest and principal repayments
  • good natured Products Inc. (GDNP) is up 6.67 per cent and is trading at $0.40 per share as of 12:47 p.m. ET

good natured Products (GDNP) has secured a US$55 million revolving credit facility and closed a $6.6 million mortgage financing arrangement.

The senior credit facility consisted of a US$30 million asset-based revolving credit facility with a four-year term and an uncommitted US$25 million revolving facility, available at the option of Wells Fargo.

The new senior credit facility will be used to retire $13.7 million outstanding on credit facility debt with National Bank, for acquisitions, capital asset additions, working capital and general corporate purposes. replaced the National Bank credit agreement of $35.8 million.

“Attracting one of the largest banks in the U.S. as a partner to fuel our current and future growth initiatives is an incredible milestone for the Company… also very excited to have BDC, one of our largest shareholders, extend its support at this important juncture, and are very pleased that Wells Fargo and BDC share a common vision regarding our long-term path for growth, value creation, and in making better everyday products® that create a healthy sustainable future for our planet and its people,” Paul Antoniadis, CEO of good natured, said.

The secured mortgage refinancing on the Brampton location with BDC has a principal amount of $6.6 million, repaid over a 25-year period with monthly interest and principal repayments. BDC has made an additional $3.9 million available as funding toward future capital projects.

good natured Products Inc. (GDNP) is up 6.67 per cent and is trading at $0.40 per share as of 12:47 p.m. ET.


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