Macro Enterprises Inc. announced that its wholly-owned subsidiary, Macro Industries Inc. has finalized its new $145 million senior secured credit facilities first announced on April 11, 2019.

HSBC Bank Canada is the lead lender, and acted as agent to the lending syndicate that includes National Bank of Canada and Bank of Montreal. The credit facilities have a three-year term, and comprise a $65.0 million revolving credit facility, with availability subject to a margining, and an $80.0 million letter of credit facility, the latter backed by Export Development Canada performance security guarantee insurance.

The new revolving facility will provide Macro with enhanced flexibility and access to the funding essential to support its expanding portfolio of large-scale project opportunities. The letter of credit facility will provide for the issuance of standby letters of credit to backstop the Company's performance guarantees that are a customary feature of its construction business.