Jul 18, 2014. /Lesprom Network/. Sonae Industria, SGPS, SA announces that its subsidiary company Tafisa Canada Inc. has completed a new medium-long term financing transaction, with a group of local reference credit institutions, in the amount of C$ 90 million ($83.7 million).

The new credit facility has a five-year maturity and allows Tafisa Canada Inc. to fully fund its business plan, reinforcing the financial flexibility to execute future investments, while significantly extending the average maturity of its debt.

In addition, this new local financing will allow, in the short term, an additional capital distribution to other entities of the Sonae Indústria Group, in the amount of C$ 40 million ($37.2 million).