Shoppers Drug Mart closes new C$750M revolving term credit facility maturing Dec. 10, 2014 with a syndicate of banks, replaces its existing C$800M facility that was to mature on June 6, 2011
December 10, 2010
– Shoppers Drug Mart Corporation (TSX: SC) today announced that it has closed a $750 million revolving term credit facility with a syndicate of banks. This new credit facility, which matures December 10, 2014, replaces the Company’s previously existing $800 million revolving term credit facility that was to mature on June 6, 2011. Accordingly, the consolidated net debt position of the Company remains substantially unchanged. The new credit facility is available for general corporate purposes, including backstopping the Company’s $500 million commercial paper program.
About Shoppers Drug Mart Corporation
Shoppers Drug Mart Corporation is one of the most recognized and trusted names in Canadian retailing. The Company is the licensor of full-service retail drug stores operating under the name Shoppers Drug Mart (Pharmaprix in Québec). With more than 1,181 Shoppers Drug Mart and Pharmaprix stores operating in prime locations in each province and two territories, the Company is one of the most convenient retailers in Canada. The Company also licenses or owns more than 58 medical clinic pharmacies operating under the name Shoppers Simply Pharmacy (Pharmaprix Simplement Santé in Québec) and eight luxury beauty destinations operating as Murale. As well, the Company also owns and operates 63 Shoppers Home Health Care stores, making it the largest Canadian retailer of home health care products and services. In addition to its retail store network, the Company owns Shoppers Drug Mart Specialty Health Network Inc., a provider of specialty drug distribution, pharmacy and comprehensive patient support services, and MediSystem Technologies Inc., a provider of pharmaceutical products and services to long-term care facilities in Ontario and Alberta.