Fort Collins, CO, July 27, 2012 --(PR.com
)-- "Pawnee’s lenders have once again demonstrated their support of our growth by renewing and expanding Pawnee’s credit facility for another four years," said Chesswood’s President and CEO, Barry Shafran. "Our credit facility has been increased once again, to US$85 million from US$55 million while the accordion feature of our loan agreement has been increased to US$115 million from US$85 million," added Shafran.
Chesswood has once again contributed an additional US$2.0 million of capital to Pawnee, in conjunction with the renewal, to further support Pawnee’s continued growth. Pawnee’s portfolio has grown by more than 30% since the last renewal of its banking agreement in September 2010.
Pawnee’s syndicate, once again led by JPMorgan Chase, also includes KeyBank and BBVA Compass. The terms and conditions of the renewal facility are substantially similar to the last credit agreement.
About Chesswood Group Limited
Chesswood Group Limited is a financial services company with operating businesses in both Canada and the U.S.