ANNOUNCED AS TEMPORARYNo
On 28 April 2017, Export Development Bank Canada (EDC) announced financing for Open Text Corporation. The stated purpose of the transaction is to renewal/refinancing of credit facilities to Open Text Corporation and its operations within Canada.
EDC publishes value ranges rather than precise values for the projects it finances. The present project will receive an amount in the range Can.$15-25 million. Taking the lowest possible amount, in this case, Can.$15 million (approx. U.S.$11.16 million), is our conservative estimate of the financing received.
The GTA includes state guarantees and other financial incentives that are likely to affect the restructuring and performance of firms facing international competition, whether from imports, in export markets and from foreign subsidiaries.
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