Park Lawn Corporation Announces Upsize to Credit Facility

Park Lawn Corporation (PLC.TO) ("PLC") is pleased to announce an increase to its syndicated bank financing arrangement as well as the addition of CIBC to the syndicate led by National Bank of Canada and including Bank of Montreal , Bank of America and The Toronto-Dominion Bank.

The financing arrangement increases PLC's borrowing capacity from $175 million to $250 million . The additional credit will provide PLC with further flexibility as it continues to pursue its growth strategy. In particular, the revolving credit facility is expected to support PLC's ability to capitalize on organic projects and acquisition opportunities as they arise, while maintaining a prudent approach to leverage.

Highlights of the credit facilities include:

$250 million committed credit facility

$50 million accordion facility

Maturity date has been extended to Jan 18, 2025

"We are pleased to welcome CIBC to our lending syndicate, this is a natural extension of the relationship we have been cultivating with the bank over the past several years. We also look forward to continuing to grow our relationships with National Bank, BMO, Bank of America and TD. I am confident that this transaction will enhance our success as we continue to grow our business in both Canada and the United States ," said Andrew Clark , Chairman and CEO of PLC.

About Park Lawn Corporation

PLC provides goods and services associated with the disposition and memorialization of human remains. Products and services are sold on a pre-planned basis (pre-need) or at the time of a death (at-need). PLC and its subsidiaries own and operate businesses including cemeteries, crematoria, funeral homes, chapels, planning offices and a transfer service. PLC has a North American wide platform with operations in five Canadian provinces and fourteen US states.