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Northstar Aerospace enters into US$80 million credit agreement

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JP Morgan Chase Bank

On March 9, 2007, Northstar Aerospace Inc. announced that Northstar and its subsidiaries had entered into a new, expanded credit agreement with JP Morgan Chase Bank, N.A. and Fifth Third Bancorp, as arranged by J.P. Morgan Securities Inc. The new $80 million credit agreement includes a $20 million term loan and a revolving credit facility with maximum borrowing up to $60 million. The terms of the agreement provide for the opportunity to increase the available borrowings by $25 million, if need arises. Proceeds from this facility will be used to replace and repay the amounts outstanding under the existing facility that has maximum borrowings of $64 million. Jon Levin and David Johnson of Fasken Martineau advised JP Morgan Chase Bank, N.A. in this matter.


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