Transat Extends $250M Loan Facility; EC Decision on Air Canada Deal Expected by JUL

Transat has extended the termination date of its $250 million short-term loan facility by three months.

The facility was arranged on 10OCT, 2020 and will now terminate between 30JUN, 2021, and the closing of Air Canada’s proposed acquisition of Transat.

Transat says this extension provides it with additional room to manoeuvre in securing the financing that would be required before expiry of the credit facility.

The decision from the European Commission regarding the acquisition by Air Canada is now expected during the first six months of 2021, it said.

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