IMAX Corp. (NASDAQ: IMAX), the operator of giant-screen movie theaters, said Monday it has reached a deal for a new $75 million credit line, according to Associated Press.
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The deal with Wachovia Capital Finance Corp., with the participation of Export Development Canada, is for a four-year senior secured credit line consisting of revolving loans of up to $40 million and a term loan of $35 million.
The company will use the funds to finance its future growth and working capital requirements.
The new credit line matures on Oct. 31, 2013 and replaces the company's previous $40 million credit line, which was to mature in October 2010.
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