StorageVault Announces $7 Million 10 Year Term Debt at 4.16%
TORONTO, Feb. 01, 2019 (GLOBE NEWSWIRE) — STORAGEVAULT CANADA INC. (“StorageVault”) (SVI-TSX-V) is pleased to announce that it has completed a $7 million, 10 year term debt financing against one store at a fixed annual interest rate of 4.16%. The proceeds from the term debt financing were used to repay the principal outstanding in relation to the store, with the excess proceeds of $2.6 million being used reduce amounts outstanding under StorageVault’s variable interest credit facility.
“With this term loan, we have completed just over $275 million of 10 year term debt in the past 3 quarters. We continue to reduce our interest rate exposure and improve our long term debt ratio,” said Iqbal Khan, StorageVault’s Chief Financial Officer.
About StorageVault Canada Inc.
StorageVault owns and operates 160 storage locations in the provinces of British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, Quebec, and Nova Scotia. StorageVault owns 106 of these locations plus over 4,600 portable storage units representing over 6 million rentable square feet.
For further information, contact Mr. Steven Scott or Mr. Iqbal Khan:
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