ANNOUNCEMENT 16 Mar 2018
In 2018 Export Development Bank Canada announced financing for Canadian suppliers.
NUMBER OF INTERVENTIONS
On 16 March 2018, Export Development Bank Canada (EDC) announced export financing for Gildan Activewear Inc. The stated purpose of the transaction is the renewal/refinancing of credit facilities for a subsidiary of Gildan Activewear Inc. in the United States.
EDC publishes value ranges rather than precise values for the projects it finances. The present project will receive an amount in the range Can.$50-100 million. Taking the lowest possible amount, in this case, Can.$50 million (approx. U.S.$38.66 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.