VANCOUVER, BC, April 23, 2021 /CNW/ - A&W Food Services of Canada Inc. ("Food Services") announced today that it has board of directors approval and has reached terms with its senior lender to increase the available capacity of its operating line credit facility from $25 million to $40 million. The credit facility will continue to be used to fund working capital and for general corporate purposes and is secured solely by Food Services' indirect interest in A&W Revenue Royalties Income Fund (the "Fund"), as permitted under the existing agreements between Food Services and the Fund.
A&W Food Services of Canada Inc. – A&W Food Services of Canada Inc. is a corporation amalgamated under the laws of Canada and is 100 per cent Canadian owned and is one of the strongest brand names in the Canadian foodservice industry. A&W is the nation's second largest hamburger restaurant company with over 1,000 locations coast-to-coast. A&W Restaurants feature famous trade-marked menu items such as The Burger Family®, Chubby Chicken®, and A&W Root Beer®. For more information, please visit www.aw.ca.
Certain statements in this news release may contain forward-looking information within the meaning of applicable securities laws in Canada (forward-looking information). The words "anticipates", "believes", "budgets", "could", "estimates", "expects", "forecasts", "intends", "may", "might", "plans", "projects", "schedule", "should", "will", "would" and similar expressions are often intended to identify forward-looking information, although not all forward-looking information contains these identifying words. Specific forward-looking statements include statements with respect to: the expectation that the credit facility will be used to fund working capital and for general corporate purposes.
The forward-looking information is based on assumptions that management considered reasonable at the time it was prepared. The forward-looking information is subject to risks, uncertainties and other factors that could cause actual results to differ materially from the results anticipated by the forward-looking information.
SOURCE A&W Revenue Royalties Income Fund