NewsFlashNOVA secures $150m in new financing

23 February 2009 07:10  [Source: ICIS news]

SINGAPORE (ICIS news)--NOVA Chemicals has secured $150m (€117m) in new financing through a revolving credit facility with Export Development Canada (EDC) and a syndicate of three Canadian banks, the company said in a statement on Monday.

NOVA did not identify any of the three Canadian banks.

"This is a very big step toward ensuring NOVA Chemicals' financial position remains solid through this challenging period. We are particularly pleased to add EDC as a new lender to our financing mix," said Larry MacDonald, chief financial officer of NOVA.

($1 = €0.78)

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By: Bohan Loh
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