Stantec (TSE:STN) has released an update.
Stantec Inc. has amended its credit agreement, originally dated December 8, 2022, due to an amalgamation between HSBC Bank Canada and Royal Bank of Canada, with the latter assuming all rights and obligations. The amendments have been mutually agreed upon by Stantec, the Administrative Agent, and the Lenders, ensuring all financial instruments and liabilities continue under the revised terms. The amendments are effective as of June 27, 2024, following the satisfaction of certain conditions, including legal and upfront fees payments.
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