The North West Company Inc. Closes Refinancing of Its Canadian and International Loan Facilities

WINNIPEG, MANITOBA--(Marketwired - March 31, 2016) - The North West Company Inc. ("North West") (TSX:NWC) today announced the closing of the previously announced refinancing of the $200 million loan facilities in its Canadian Operations and the US$52 million loan facilities in its International Operations.

The new, increased, committed Canadian loan facilities, which are being provided by the lenders of the existing facilities, provide North West with a combined $300 million revolving loan facility for working capital requirements and general corporate purposes. The new loan facilities mature on April 29, 2021, and bear a floating rate of interest based on Bankers Acceptances rates plus a spread or the Canadian prime rate. These facilities are secured by a floating charge against the assets of North West ranking pari passu with its other senior debt.

The new, committed International loan facilities, which are being provided by the lenders of the existing facilities, provide North West with a US$52 million revolving loan facility for working capital and general corporate purposes. The new facilities mature on April 29, 2021, bear a floating rate of interest based on LIBOR plus a spread. These facilities are secured by a floating charge against the assets of North West ranking pari passu with its other senior debt.

Company Profile

The North West Company Inc., through its subsidiaries, is a leading retailer of food and everyday products and services to rural communities and urban neighbourhoods in Canada, Alaska, the South Pacific and the Caribbean. North West operates 228 stores under the trade names Northern, NorthMart, Giant Tiger, AC Value Center and Cost-U-Less and has annualized sales of approximately CDN$1.8 billion.

The common shares of North West trade on the Toronto Stock Exchange under the symbol "NWC".