BWI Holdings, Inc., operating as Budget Waste Inc., announced this morning that it is actively working with its agents to secure a new credit facility of up to $5 Million. The company is currently in the process of negotiating the terms and conditions with multiple lenders to achieve the most cost effective terms.
Once the new credit facility has been secured, BWI plans to use part of the funds to pay off existing debt and leases, and use the balance for General working capital purposes. According to the press release, this financing would allow the company to complete a plan of Arrangement and emerge from CCAA in the near future.
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