date:Aug 07, 2012
The net proceeds were used to repay balances owing on Clearwater's Asset Based Revolving credit facility.
Ian Smith, Clearwater's CEO commented: Consistent with our goal of increasing shareholder value, the exercise of this accordion option strengthens our liquidity and overall capital structure while increasing our ability to fund growth initiatives and reduce overall leverage.
GE Capital Markets, Inc and GE Capital Markets (Canada) Ltd. acted as Lead Arrangers and Bookrunners for the $10 mil