Foraco International SA announced the early redemption of the outstanding senior secured bonds facility of USD 85 million provided by Marathon Asset Management LP (Marathon), along with securing new long-term bank financing from Desjardins and Caisse d'Epargne. The strong market and the robust operating performance, with a significant operating cash flow, allow Foraco to comprehensively refinance its balance sheet. To complete this debt refinancing, with an early repayment, Foraco successfully secured approximately USD 87 million in new debt, backed by its two main subsidiaries.

This refinancing is a key step in Foraco's journey as it significantly reduces the cost of debt (by approx. 50%) and increases the flexibility for the company due to the extended maturity of the debt, a back-ended repayment profile and committed facilities of CAD 15 million from Desjardins.