IMAX gets new $75 million credit line

AP News
Posted: Nov 16, 2009 5:22 PM

IMAX Corp., operator of giant-screen movie theaters, said Monday it has reached a deal for a new $75 million credit line.

The deal with Wachovia Capital Finance Corp., with the participation of Export Development Canada, is for a four-year senior secured credit line consisting of revolving loans of up to $40 million and a term loan of $35 million.

The company will use the funds to finance its future growth and working capital requirements.

The new credit line matures on Oct. 31, 2013 and replaces the company's previous $40 million credit line, which was to mature in October 2010.