05:07 PM EDT, 03/18/2024 (MT Newswires) -- Colabor Group ( COLFF ) on Monday said it completed the amendment and restatement of its C$71.8-million senior first-ranking secured credit facility.

The food-distribution company said the facility's maturity has been extended to February, 2028, from February, 2025. It consists of a C$50-million revolving facility and a C$21.8-million term loan. It is priced at cost of funds plus 1.75% to 2.75%.

"The extension of our credit facility re-affirms the support and confidence of our existing financial partners. As a result, we can continue to execute our strategic plan, while maintaining a prudent management of our overall leverage position," chief financial officer Pierre Blanchette said in a release.

Colabor ( COLFF ) shares closed unchanged at C$1.16 on the Toronto Stock Exchange.